Nokia (NYSE: NOK ) announced a series of layoffs today and the market reaction was a bit mixed. In the video below, Motley Fool tech and telecom analyst Eric Bleeker tells us why he sees this as a very positive move for the long term. He tells us to try not to focus so much on the short-term market fluctuations, and instead keep an eye to how Nokia is repositioning itself from a top brand in inexpensive commodity phones to its goal of cementing itself as a solid third-place competitor in the smartphone market. To do that, reducing its costs by making employment cutbacks is a necessary (though unfortunate) move.
Nokia's been struggling in a world of Apple and Android smartphone dominance. However, the company has banked its future on its next generation of Windows smartphones. Motley Fool analyst Charly Travers has created a new premium report that digs into both the opportunities and risks facing Nokia to help investors decide if the company is a buy or sell. To get started, simply click here now.