Nokia cuts more than thousand jobs in Finland
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 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 (nearly $1 billion or Rs 6,652.8 crore) 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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
09:56 AM IST