Nokia cuts more than a thousand jobs in Finland

Image
Reuters HELSINKI
Last Updated : May 21 2016 | 12:13 AM IST

HELSINKI (Reuters) - Nokia is cutting 1,032 jobs in Finland as part of a cost-cutting programme 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 cost cutting programme in April and is targeting 900 million euros ($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.

($1 = 0.8910 euros)

(Reporting by Tuomas Forsell; editing by David Clarke)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 21 2016 | 12:12 AM IST

Next Story