Nokia Shareholders and Unions not happy with new Nokia partnership

• 16/02/2011


After Nokia stocks took a 25% tumble right after the ‘Microkia‘ partnership was announced, many started to fear what Stephen Elop, Nokia CEO, was going to do with the company. As expected, Elop has been fighting to make this partnership work, and many feel (including myself) that he’s really going about this all wrong by stirring the mobile pot.

Now Elop has a couple of tough tasks to battle. The Shareholders who are upset at the state of Nokia stock, and the Unions representing the staff of Nokia. The Union is after €100,000 (in addition to severance payments) for every Nokia employee that loses their job, which we heard is ‘imminent’ according to Elop. They may see a 25% staff reduction because of this new direction. The Shareholders want to kick Elop out of CEO and get Nokia back to the Symbian/MeeGo plans they had before, but have been unsuccessful thus far. We may see more about this at their Annual General Meeting on may 3rd.

Wow, somebody put a leash on Elop!

[Source – Engadget]

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Tags: Annual General Meeting, AnnualGeneralMeeting, investors, MeeGo, microkia, microsoft, nokia, nokia plan b, NokiaPlanB, plan b, PlanB, pro, profit, share price, SharePrice, Stephen Elop, StephenElop, stock, stock price, StockPrice, stocks, Symbian, trojan horse, TrojanHorse, untion, windows phone, WindowsPhone

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