Nokia's (NOK) massive job cuts and facility closings may help narrow its losses, but they risk...
Saturday, June 16, 2012, 11:25 AM ETNokia's (NOK) massive job cuts and facility closings may help narrow its losses, but they risk further weakening the company's competitive position, by depriving it of the resources it needs to stage a comeback. That, in turn, could force Microsoft (MSFT) to explore new partnerships to further its Windows Phone ambitions. With Nokia's credit rating already downgraded to junk, the bond market is assuming the worst - CDS spreads now put the odds of a default at 54%.
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