Nokia plans to get rid of another 3,500 jobs! 2,220 jobs will be lost in Romania due to the factory closure in Cluj. Back in April Nokia stated they would cut out 4,000 jobs! That is a lot of families going without money. To top it off the NEW cut cost plan got rid of 10,500 jobs! Chief executive Stephen Elop claims, “We are seeing solid progress against our strategy, and with these planned changes we will emerge as a more dynamic, nimble and efficient challenger”. Nokia had R&D (research and development) sites in Europe, Finland, and Germany. The company had a net loss of 368 million dollars in three months. Net sells fell by 7 percent to 9.3 billion dollars.
As if it was not hard enough to find jobs there will now be even more job losses, not only in America, but in Romania, Europe, Finland, and Germany. There are going to be a lot of families who are going to have to struggle for a while. Any time a major company decides to cut cost many people are left without jobs. This is a global crisis because it affects many people and their families in many different places. After these people lose their jobs they are going to feel the full effect of the economy going down. Nokia is not able to keep up with other major companies so this is why they have to cut cost and fire many individuals. So because of these competitions between major phone companies many people will suffer.
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