Nokia cuts 10,000 jobs, acquires Scalado, sells Vertu and announces executive changes

Nokia says it ‘does not make plans that impact employees lightly’
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This morning, phone manufacturer Nokia announced that it is preparing to lay off 10,000 workers by 2013.

"These planned reductions are a difficult consequence of the intended actions we believe we must take to ensure Nokia's long-term competitive strength," explained Stephen Elop, Nokia president and CEO. "We do not make plans that may impact our employees lightly, and as a company we will work tirelessly to ensure that those at risk are offered the support, options and advice necessary to find new opportunities."

As Nokia outlines a range of planned actions aimed at sharpening its strategy, which includes the consolidation of certain manufacturing operations, the company also revealed that it would divest Vertu, its luxury mobile phones business to EQT VI, a European private equity firm.

There was also an announcement from the company that it would be acquiring developers, technologies and intellectual property from Scalado to enhance Nokia’s Lumia devices.

"Nokia has been working with Scalado for more than ten years and it has 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."

As well as all this, Nokia announced that it has 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.

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