The Guardian
trending topics
Close Box

Our news

Yes, it’s true: We are joining GigaOM...


Nokia Cutting Back Investment In New Internet Services; Slashing 450 Jobs

  • Comments Comments (View)
  • Text Size: A A

image Handset giant Nokia (NYSE: NOK) is pruning back its investment in starting up new services, a move that will help it slash another 450 jobs, reports Reuters. Internet services—such as games and maps—was supposed to help the world’s largest cellphone maker expand beyond its role as a manufacturer, and even become its main line of business in coming years. Nokia’s head of the entertainment and communities operations Tero Ojanpera told Reuters that the company would “focus investments on fewer initiatives and increase the use of common enablers across certain services.” He said, “We are moving into Ovi, into a platform strategy.”

The 450 job cut will also hit its internal IT department and on “industry collaboration activities. Nokia, which has already cut 3,000 jobs company-wide, reported its first quarterly pre-tax loss last week as slumping phone sales and increased competition took its toll on earnings. Earlier this year, Nokia said it was cutting annual costs at its handset unit by more than 700 million euros ($911 million) to offset the decline.

Apr 28, 2009 5:41 AM ET

Posted In: Entertainment, Games, Music, Jobs & Layoffs, Social Media, Video, Companies, Nokia

(Page 1 of 1)


The Bestsellers

From iTunes and YouTube to Facebook and Kindle, the most popular content on the web, free and paid.

iTunes Movies iTunes Movies
1. The Twilight Saga: Breaking Dawn -…
2. Drive
3. In Time
4. A Very Harold & Kumar Christmas
5. Moneyball
See The Other Bestsellers »

Jobs RSS Job Listings

Social Standing

Which media brands are getting a lift from Tweeters and bloggers right now -- and which are getting panned?

"Sentiment" Scores for All the Companies »

Sponsors

Staff