Nokia reports improved earnings for Q3 2010, will still ‘streamline’ up to 1,800 employees out of a job

Nokia’s quarterly results have just been made public and the company’s devices plus services sector has actually improved its income relative to last year: €7.2b of revenue was collected over the past three months versus €6.9b in the same period a year ago. Operating profit has also pepped up, going from the previous €785m to €807m. You’d think this would augur well for Stephen Elop ‘s beginning at the helm , but the new man in charge is also presiding over a fundamental restructuring of operations at Nokia, which is expected to result in the redundancy of up to 1,800 employees globally. There are no specifics to tell us who’ll be losing out, but the aims are the boilerplate tasks of increasing efficiency, simplifying operations, and reducing time to market. Anyway, we doubt the great people of Finland will be pleased. Continue reading Nokia reports improved earnings for Q3 2010, will still ‘streamline’ up to 1,800 employees out of a job Nokia reports improved earnings for Q3 2010, will still ‘streamline’ up to 1,800 employees out of a job originally appeared on Engadget on Thu, 21 Oct 2010 06:26:00 EDT. Please see our terms for use of feeds . Permalink

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