Nokia - decisive action - oh dear

cressers · Post by **cressers** » Fri Nov 14, 2008 8:46 pm

seems nokia announced today after most employees had gone home some pretty big words.

No externals, contractors etc and "bigger steps" for 2009 cost reductions.

Combined with steel, paper, banks, construction.....not a rosy 2009.

Finland doesnt seem so immune to the credit crunch now.

**Sponsor:**

Pursuivant · Post by **Pursuivant** » Fri Nov 14, 2008 9:08 pm

but we need more workers, and atleast 10 000 new immigrants a year.

cressers · Post by **cressers** » Fri Nov 14, 2008 9:14 pm

lol, do you know what for, I fit the description

Pursuivant · Post by **Pursuivant** » Fri Nov 14, 2008 9:42 pm

dunno, ask the wise people in the government

Rick1 · Post by **Rick1** » Fri Nov 14, 2008 10:15 pm

Arrogance will be punished sometimes

Keep on networking

In summer your boss said that there will always be demand for mobiles and there the stockprice and his bonus went up

I think those 10.000 might be a little bit less since we lose 30.000 jobs

cressers · Post by **cressers** » Fri Nov 14, 2008 10:20 pm

Its funny, all thats being said is devices will be same/down on 2008.

So there will be 1.2 BILLION devices sold next year.

No one is LOSING money, just MAKING less.

Shame that a lot of people are going to suffer because of this.

Rick1 · Post by **Rick1** » Fri Nov 14, 2008 10:26 pm

cressers wrote:Its funny, all thats being said is devices will be same/down on 2008.

So there will be 1.2 BILLION devices sold next year.

No one is LOSING money, just MAKING less.

Shame that a lot of people are going to suffer because of this.

I think that is so stupid : Katainen said : it will not touch Finland. Who is he to say that? If he can predict the future he would be millionaire instead of selling nonsens

Also the finns think that even if the whole world economy collapses that there private economy is doing fine. I do not get it , we are all connected like a domino.

Why can you say now already that the sales will be the same next year?

cressers · Post by **cressers** » Fri Nov 14, 2008 10:37 pm

i guess i cant.

I am repeating what NOK said, and that there will be reductions because of this.

If sales are even worse next year, increase number of reductions - pretty simple formula.

It is true that finland is less exposed to credit swap risks, but given that steel, paper and telco are all dependant on consumer purchase to the most part, its hard to see how its immune.

raamv · Post by **raamv** » Fri Nov 14, 2008 11:30 pm

Layoffs of Nokia are not connected to the credit crisis..Its more connected to the Recession in most regions..( Which is not exactly due to the crisis..But was hastened by it)..
The main credit calls ( For most hi-tech companies in EU zone) will come in end of 2009 and those are for matured long.term equity loans which were not affected by the crisis!!
So Nokia is in essence preparing for a flattish market for 2009.

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