Nokia after the purge: It’s so unfair

Last week Nokia did exactly what analysts have been begging it to do for years - it took an axe to the company's bureaucracy and purged the leadership. The latest 10,000 redundancies leave the company with its smallest workforce since 1998. Nokia's reward was a further 18 per cent fall in its share price. Thanks, markets.

The announcements included plant closures, redundancies, a big executive purge, and cash from the sale of Vertu. It also included the acquisition of assets - presumably IP - of imaging company Scalado. This should have been better received, you might think.