Nokia’s Bridge Program Redesigning Layoffs
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Nokia’s Bridge Program is a critical program, wherein, the company was redesigning layoffs in 2009-2010. It was supposed to save more than 3,000 jobs in Finland and reduce its workforce from 210,000 people down to 150,000. The company had planned to implement the program at a cost of about $1 billion over five years, by the end of 2010. The layoffs were initially scheduled to begin in
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It is hard to talk about Nokia’s Bridge Program redesigning layoffs without mentioning the hard-hitting effects that layoffs have on individuals. It is indeed a serious matter that every human can understand and accept. Everyone feels emotions of sadness or even fear when confronted with the prospect of losing a job. On the other hand, it is an essential fact that an individual’s job loss can be a turning point for his/her life. his explanation The experience of layoffs is not only challenging for employees but also
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Nokia is a Finnish multinational telecommunications company founded in 1865. In its journey as one of the world’s largest phone manufacturers, the company has come a long way. In the year 2010, they were the world’s largest mobile phone manufacturer. However, they have witnessed a major slowdown in business over the past five years, leading to a considerable dip in profits, which has increased from $5.6 billion in 2011 to $2.5 billion in 20
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A few months ago, Nokia announced layoffs of 13,000 workers, and it has continued to be a topic of conversation among industry experts, media, and consumers. The question on most minds was, would the company go through the painful process again, and will it even consider cutting employees to meet its financial goals. As we all know, Nokia is one of the top mobile phone manufacturers, and the company has been hit hard by economic problems and the decline in the global mobile phone market. The industry leader has
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A couple of months back, Nokia Corporation, one of the largest mobile phone manufacturing company in the world laid off about 2,000 workers from its Bridge Program Redesigning unit in Finland. The layoffs were one among various steps taken by Nokia to streamline the operation in its devices and services business. These layoffs had been made across 16 countries, including Finland, where 80% of Nokia’s total employees were based. The rest were spread across Germany, Sweden, Canada, United States, the United
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Nokia’s Bridge Program Redesigning Layoffs I wrote: Nokia’s Bridge Program is a high-performing organization of over 6,500 highly skilled people with 10 years of experience and an average tenure of 6 years. The program includes a year-long apprenticeship and a further year of high-performing development with an option for a further year of full-time service for those who perform well. The program is a top performer within the Nokia Group’