Both Jorma Ollila (the Chair) and Olli-Pekka Kallasvuo, the CEO preceding Elop, were financial experts, not tech visionaries. The organization that had created the rise of Nokia was split to pieces before Elop took control with no understanding that you can't run an technology corporation like an investment bank.
There are two pretty good books exploring this topic:
"rendering all NOKIA employees sacrificial lambs for MS"
'Sacrificial lamb' is quite hyperbolic. The laid of people enjoyed quite good benefits. You don't become an instant destitute in Finland just because you are temporarily out of a job.
The way the handset business was going, Microsoft basically paid 8 billion for the privilege of a dead-in-the water platform and the nicety of laying off the staff .
If there ever was an evil plot to steal value from Nokia's shareholders then it was thoroughly botched.
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