Helsinki : Struggling Nokia Corp. is downsizing by more than 1,000 jobs, part of a wide-ranging plan to cut costs and streamline operations.
Business | General
Nokia sheds 300 IT jobs
Changes are part of 10,000 job cuts and plant closures announced in June
- AP
- Published: 16:38 January 20, 2013
The Finnish firm says it will lay off 300 workers in its IT sector and transfer “some activities and up to 820 employees to strategic partners,” India-based HCL Technologies and Tata Consultancy Services, which have operations in Finland.
Nokia said on Thursday that the changes, mostly in Finland, are part of 10,000 job cuts and plant closures announced in June.
The former No.1 phone maker has been edged out by Samsung Electronics and Apple Inc.’s iPhone in the tough smartphone race and is aiming to save €1.6 billion by the end of 2013. Last week, Nokia said it expects to return to profitability as fourth-quarter mobile phone sales exceeded expectations.
More from Business General
More from Business
Business Editor's choice
-
Sanctions-hit SyrianAir booked out
Carrier operating at full capacity as civil war makes road travel perilous
-
Abu Dhabi retailers bang on mall doors
Rental surge accompanies mall developments and expansions in the UAE capital
-
FlyDubai ‘record profits’ promised by chief
Gaith Al Gaith vows airline will exceed last year’s performance