Linked by Thom Holwerda on Wed 25th May 2016 22:11 UTC, submitted by arsipaani
Microsoft

Microsoft is signalling the end of its Nokia experiment today. After acquiring Nokia's phone business for $7.2 billion two years ago, Microsoft wrote off $7.6 billion last year and cut 7,800 jobs to refocus its phone efforts. Microsoft is now writing off an additional $950 million today as part of its failed Nokia acquisition, and the company plans to cut a further 1,850 jobs. Most of the layoffs will affect employees at Microsoft's Mobile division in Finland, with 1,350 job losses there and 500 globally. Around $200 million of the $950 million impairment charge is being used for severance payments.

Everything about this entire deal needs to be investigated for all kinds of shady practices. My gut is telling me there's a bunch of people that perhaps ought to be in jail on this one. Meanwhile, this is absolutely terrible for all the people involved. I've got the feeling thousands of people's jobs have been used as a ball in a very expensive executive game.

Luckily, the remnants of Nokia in Finland seem to be doing well, so that's at least something, and in case you've got a hunkering for the good old days: there's a video out of Nokia Meltemi on a device called the Clipr - a very rare look at a Linux-based mobile operating system Nokia was developing around 2012.

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RE: more
by dsmogor on Fri 27th May 2016 15:24 UTC in reply to "more"
dsmogor
Member since:
2005-09-01

As usual, if most of them have left gradually they'd probably have had better chances. If in the other case if you're a part of a couple of thousand of similar (possibly narrow) spec engineers are dropped into the job market at one time, one place you're seriously f*cked.
Not only only fraction will find a new job around forcing most to leave the country but the supply will overwhelm demand for many months bringing the salaries to the bottom.
That's a material loss for Finland too.

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