Cutbacks | Windows Central

Both great devices

Does the new Surface Pro really edge out the cheaper Surface Pro 4?

All the apps

Hey you! Don’t forget about all of Windows Central’s apps.

Microsoft mixes up Beam

Microsoft's 'Beam' service is getting a rebrand, say hi to 'Mixer'

Star Wars hits the big 4-0

Celebrate Star Wars' birthday with these great gifts!

Pro vs. Laptop

Should you buy Microsoft's Surface Pro or Surface Laptop?

Love/hate relationship

8 things you'll love about new Surface Pro – and 3 things you'll hate

Monkey see monkey do

Is Microsoft's Fluent Design a clone of Google's Material Design?

Surface FTW

Surface Pro beats iPad Pro in a tech spec comparison — by a mile

Cast your vote ...

Will you buy Microsoft's new Surface Pro? (poll)

The pinnacle of Surface

Why isn't the new Surface Pro named 'Surface Pro 5?'

Stay cool look cool

Introducing the new Windows Central 'Colors T-Shirt,' now ready to order!

Missing the future

Why Microsoft's new Surface Pro doesn't have a USB Type-C port

All new for 2017

Meet the new Microsoft Surface Pro!

Tilt and shift

New Microsoft Surface Pen: Everything you need to know

Spec showdown

Which is the best? Surface Laptop vs. Spectre x360 vs. XPS 13

What to expect when you're expecting

What to expect from Microsoft's hardware event in China this week

The grass is greener

This $500 laptop from Acer is a great alternative to the best Chromebook

Limited Fix

There's now a fix for 'WannaCry,' but it's fairly limited

long-term strategy

Microsoft WILL release a Surface 'phone' — but it could take a while

Keep it secure

Try NordVPN for as little as $3.29 a month

< >

Pre-order: Surface Laptop | NEW Surface Pro

Cutbacks

Although the Scalado news is inspiring, Nokia is still in the rough as it plans to layoff nearly 10,000 workers by the end of 2013 in a continued restructuring of the company.

In addition, the Finnish firm is planning to close its facilities in Ulm, Germany, Burnaby, Canada and its manufacturing facility in Salo, Finland (Research and Development efforts in Salo will remain) while focusing on their Lumia line of phones including "broadening the price range of Lumia and continuing to differentiate with the Windows Phone platform". Part of the cost savings move has also been the successful divestment of the Vertu luxury line of Nokia phones to EQT VI for a rumored 200 million euros ($260 million).

Finally there are leadership changes as well including the promotion of former Microsoft executive Chris Weber from President of Nokia Inc. (US), and head of Markets, North America to executive vice president of Sales and Marketing, where he will join the leadership team of Nokia. The other changes in Nokia's leadership team can be found here.

So what does all of this amount to? There is a lot going on at Nokia including a dramatic reshaping of the company under CEO Stephen Elop driven mostly by market demands and the recent realignment of the company around Windows Phone. Analysts and equity firms have been downgrading Nokia stock for weeks now and this is their response which equates to massive cutbacks both in terms of people and facilities, potentially saving the company a lot of money during these tight times.

Nokia has previously lost 24% of its market share losing out to Samsung for top manufacturer. With the continued stampede of iPhone and Android, Nokia will be relying on Windows Phone 8 and its increasingly popular Lumia line to save it from financial despair. 

Nokia stock is currently trading at $2.79 a share which is near it's 52 week low of $2.61. It will be curious to see how the market responds to these proposed cutbacks and restructuring.

Source: Nokia

More →