Nokia to shed additional 490 jobs

By on May 20, 2009 at 7:47 AM
News May 20, 2009

As Finnish cell phone giant Nokia continues to cut costs in an effort to combat declining demand, the company recently told Reuters it would shed an additional 490 jobs in the near future. 170 employees from Nokia’s logistics, production management and production support divisions will be released and the company will extend its Voluntary Resignation Package to 320 workers at its Salo facility. Nokia had already implemented a temporary layoff schedule at its plant in Salo, but apparently the measure wasn’t as effective as it had hoped. So far this year, Nokia has cut approximately 4,000 jobs as it pushes to reduce annual expenses by nearly $1 billion.

Thanks, Tyrone

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  • http://www.engadget.com Robert

    i hate nokia

  • Nokia

    i hate robert

  • http://fmylife.com oinkflu

    I love it!

    Posted from BGR Mobile (iPhone) at: Romulus United States

  • Bradley

    all these big companies that keep laying off hard workers everyday is ridiculous. in the end all they care about is making a huge profit and the individuals that are helping them achieve it (the employees) end up getting the sharp end of the stick. its really sad to see this happen globally due to the state of the economy, but how do they expect it to recover when people are laid off and as a result the little money they have will never filter into the economy and therefore it will only get worse. but the big companies don’t get that picture now do they

  • Tyrone D.

    It’s going to stay this way until middle of next year, so, if you have a job, be happy (even if you hate it) and don’t quit. just keep working hard.

  • Keith

    Bradley: “the end all they care about is making a huge profit”… I hate to break it to you, but the only reason that any company is in business is to try to generate an above-average rate of return on the capital that is employed to make the company a going concern. While layoffs are unfortunate, the only reason that a company takes on the expense of an employee in the first place is to achieve this rate of return, not for some abstract altruistic mission.

  • MadMike

    Well you won’t have much demand when you say you are going to release a phone and by the time you actually release almost a year later, its already obsolete.

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