Espoo, Finland – Nokia (NYSE: NOK) announced plans on Wednesday to
eliminate 7,000 positions, or about 12% of its total workforce, as part of a
cost-cutting initiative. The company said technology consultancy Accenture will
be taking over operations of its Symbian mobile operating system software
business, and some 3,000 Nokia employees will be transferred there. The
remaining 4,000 layoffs will come mainly in Denmark, Finland and the U.K., with
Nokia offering severance that will keep those affected on the payroll through
the end of 2011.
The company recently announced that it would partner with
Microsoft to provide operating system software for upcoming smartphones.
Nokia
said the new cost-cutting measures are expected to save the company $1.47
billion by the end of 2012.
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