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Nokia Cuts Over 1,000 Jobs

Nokia Cuts Over 1,000 JobsNokia Cuts Over 1,000 Jobs

Former mobile phone maker Nokia is cutting 1,032 jobs in its main base in Finland, as part of a cost-cutting program following its acquisition of Alcatel-Lucent, the telecom network equipment maker said in a statement on Friday. Finland’s biggest company has cut thousands of jobs in its home country over the past decade, as its once-dominant phone business was eclipsed by the rise of smartphone rivals. Nokia started the latest program in April and is targeting €900 million ($1 billion) of operating cost synergies from the Alcatel deal by 2018.The company has declined to give an overall figure for global job cuts, but has said it in talks with employee representatives in about 30 countries. Nokia employs about 104,000 people worldwide, with about 6,850 in Finland, 4,800 in Germany and 4,200 in France.

 

Financialtribune.com