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Are Nokia on a downward slope?

These are troubled times for Nokia, and their home land Finland. Nokia have announced that 7,000 people will be leaving the company. Something that many analysts had forseen for many months.

4,000 of these staff are losing their jobs entirely, with Finland, United Kingdom and Denmark being the target countries. 3,000 of the listed Symbian based staff members will be farmed out to Accenture. Nokia's official statement says that the outsourced employees will continue to provide mobility software services to Nokia for their future smartphones. Accenture already own Nokia's professional services unit for engineering.

Nokia CEO: Stephen Elop

Nokia are planning to cut their research and development costs by 18 percent by 2013 which has boost shares a little, according to Reuters reports.

A Nokia employee told Techeye, that “This isn't a deal between Nokia and Microsoft, this is a Microsoft take over.” One of the biggest concerns is that Stephen Elop, the current CEO of Nokia has too many previous ties to Microsoft, as he was one of their key executives in a previous life.

KitGuru says: Nokia seem to be struggling with everything lately, we can't help but feel that they have some even rougher times ahead.

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