Nokia is cutting another 10,000 jobs globally and has warned that second-quarter losses from its mobile phone business will be larger than expected. Nokia’s shares have slumped a whopping 70% since February 2011.
The cuts bring total planned job cuts at the Finnish group since Stephen Elop took over as chief executive in September 2010 to more than 40,000.
Nokia will also book additional restructuring charges of about 1bn euros (£811m; $1.3bn).
Further to changes Nokia have appointed Juha Putkiranta as executive vice president of operations; Timo Toikkanen as executive vice president of Mobile Phones, Chris Weber as executive vice president of sales and marketing; Tuula Rytila as senior vice president and chief marketing officer; and Susan Sheehan as senior vice president of communications. Putkiranta, Toikkanen and Weber also will join the Nokia Leadership Team effective July 1, 2012.
Nokia also announced the following executives are stepping down from the Nokia Leadership Team effective June 30, 2012 to pursue other opportunities outside of Nokia: Jerri DeVard, executive vice president and chief marketing officer; Mary McDowell, executive vice president of Mobile Phones; and Niklas Savander, executive vice president of Markets.
Almost in the same breath Nokia is announcing plans to acquire world-class imaging specialists as well as all technologies and intellectual property from Scalado AB.
“Nokia has been working with Scalado for more than ten years and they’ve contributed to many of our leading imaging applications,” said Jo Harlow, executive vice president, Smart Devices at Nokia. “This transaction would enable us to combine our leadership in camera devices with their expertise in imaging, helping people move beyond taking pictures to capturing moments and emotions and then reliving them in many different ways.”
The Lund site is planned to become a key site for Nokia’s imaging software for smartphones, in addition to Nokia’s existing locations in Espoo and Tampere, Finland.