Nokia to Cut Phone Production
In response to a drop in demand for handsets worldwide, Nokia said that it would cut production volumes at its plant located in Salo, Finland. Nokia will layoff the entire staff of that plant on a rotational basis, with 20% -30% idle at any given time. It hopes to save $905 million per year.
Nokia to Idle Indian Manufacturing Plant
Nokia has indicated it will cease production at a facility located in Chennai, India. Nokia still owns and operates the plant despite the fact that it sold its handset division to Microsoft earlier this year.
Microsoft to Close Nokia Finnish Phone Production Site
Microsoft today confirmed it plans to fully close a facility in Salo, Finland, that was formerly used to create and produce mobile phones. Microsoft will leave the Nokia facilities in Espoo and Tampere open, but plans to cut about 2,300 jobs in Finland in total.
Samsung to Use $3 Billion to Boost Display Production
Samsung Display, a subsidiary of Samsung electronics, plans to invest heavily in its Vietnam manufacturing facility in order to increase production. The company already spent $1 billion on its OLED plant in Vietnam earlier this year, which is less expensive to operate than some of its other plants.
Nokia to Pare Down Its Technologies Unit
Nokia today said it intends to cut about 70 jobs from its Technologies unit. "Nokia Technologies has revised its long-term strategy and will consequently reshape [the] organization.
25% of staff costs nearly 1 billion dollars!