LayoffsAndDownsizing
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Nokia shutters two Chinese offices as part of strategic reorganization in the region
There's a hole in Nokia's heart and it goes all the way to China. Following news this past April that a massive restructuring effort was underway for Espoo's Asian operations, comes word that offices in Chengdu and Shanghai have been closed amidst declining market share. That's according to the Wall Street Journal which says the layoffs are targeted at the company's Chinese sales division -- an area Elop's made clear is essential for growth -- as Nokia's presence in the region has dwindled to 11 percent in Q1, a sharp drop from its more robust 30 percent share last Q2 2011. And with increasing competition from rival OEMs, the layoffs are expected to continue while the house that Lumia's attempting to rebuild gains its footing.
