NokiaCorp. will lay off 10,000 jobs globally and close plants by the end of 2013, the company said Thursday, in a further drive to save costs and streamline operations.
Nokia said it will shut some research and development projects, including in Ulm, Germany, and Burnaby, Canada, and close its core manufacturing plant in Finland — in Salo — where it will only maintain research and development operations.
“These planned reductions are a difficult consequence of the intended actions we believe we must take to ensure Nokia’s long-term competitive strength,” Nokia CEO Stephen said. “We are increasing our focus on the products and services that our consumers value most while continuing to invest in the innovation that has always defined Nokia.”
This story raises the question: how are all individuals to be adequately productive when a tiny minority (capital workers) produce a major share and the vast majority (labor workers), a minor share of total goods and service, and thus, how do we get from a world in which the most productive factor—physical capital—is owned by a handful of people, to a world where the same factor is owned by a majority—and ultimately 100 percent—of the consumers, while respecting all the constitutional rights of present capital owners?
Full employment is not an objective of businesses. Companies strive to keep labor input and other costs at a minimum. Private sector job creation in numbers that match the pool of people willing and able to work is constantly being eroded by physical productive capital’s ever increasing role.
http://www.youtube.com/watch?v=1wI2WxR2D5M&feature=youtu.be
For answers see http://foreconomicjustice.com/11/economic-justice/
