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Nokia to cut another 10,000 jobs
HRM 18 Jun 2012
Finnish mobile phone maker Nokia announced its plans to cut up to 10,000 jobs by the end of next year in a bid to save the struggling company.
“These planned reductions are a difficult consequence of the intended actions we believe we must take to ensure Nokia’s long-term competitive strength,” company chief executive Stephen Elop said, in a report by Reuters.
“To support this period of transition, Nokia intends to improve its operating model by significantly reducing its Device & Services operating expenses, substantially reducing its headcount and reducing its factory footprint,” it said.
Most of the jobs to be cut will come from its IT, corporate and support functions. The company said that it had begun discussions with unions and other employee representatives.

Nokia had recently lost the number one position it has held for 14 years as the world’s top mobile maker. After news of the restructuring broke, its shares plunged more than six per cent on the Helsinki stock exchange.































Kingfisher Airlines flights grounded as oil firm stops fuel supply

NDTV Correspondent, 19 Jun 2012 | 03:45 PM
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Flights of debt-laden Kingfisher Airlines were grounded once again on Tuesday after state-owned Hindustan Petroleum stopped supplying fuel to the carrier.

At least three flights from Delhi were grounded, and services in Mumbai were affected too.

The airline, which pays HPCL Rs 3.5-4 crore daily for jet fuel, owes the supplier Rs 450 crore in dues.

HPCL, the airline’s biggest fuel supplier, had in March too stopped supplies over non-payment of dues.

The airline is operating on a 'cash and carry' basis by oil companies. This means the company has to pay an upfront amount to get fuel each day. Kingfisher owes Rs 200 crore to oil companies.

Kingfisher suffered a...