Nokia sheds over a thousand jobs in Finland

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Nokia, once the undisputed king of the mobile phone industry, is to cut one thousand and thirty-two jobs in Finland, in a cost cutting exercise after its acquisition of Alcatel Lucent – the telecommunications network equipment maker, according to a statement issued on Friday.

Finland’s largest company has in fact shed thousands of jobs in the European country over the past few years, as it’s once mighty phone business was overtaken and outshone by companies who capitalised on consumer demand for smartphones, leaving Nokia scrambling to catch up.

Nokia started the cost-cutting program in April and is aiming to save almost a billion dollars of operating costs from the Alcatel deal by 2018.

The firm has not yet provided an overall figure for the job cuts globally, but is reportedly in talks with employees in thirty countries.

Nokia currently employs around 104,000 people globally, with 6,850 in Finland, 4,800 in Germany and 4,200 in France.

SOURCE: Reuters.

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