Nokia to shed more than 1,000 jobs in Finland

GMT 15:13 2016 Saturday ,21 May

Arab Today, arab today Nokia to shed more than 1,000 jobs in Finland

Nokia plans to cut some 1300 jobs in Finland to reduce cost synergies related to the acquisition of Alcatel-Lucent
Helsinki - AFP

Mobile phone giant Nokia is to cut more than 1,000 jobs in Finland, the company announced Friday, as part of cost-cutting measures following its merger with Alcatel-Lucent.

Once the world's top mobile phone maker, Finland's Nokia has been crushed by Samsung and Apple in the smartphone and tablet market in recent years, but earlier this month said it was retuning to the fiercly competitive field.

Nokia last month said it expected some 1,300 jobs to go in Finland, but the number announced in a statement on Friday was slightly lower, at 1,032.

The company is targeting 900 million euros ($1 billion) of savings per year starting in 2018 and further redundancies are expected around the world.

In its first earnings announcement since the deal with French-American rival Alcatel-Lucent, Nokia reported a first quarter net loss of 513 million euros ($583 million) earlier this month.

Source :AFP

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