Nokia confirms closure of final Finnish factory

Nokia Layoffs 2012 Salo

Nokia (NOK) on Friday confirmed the imminent closure of its last factory in Finland. Though there have been some bright spots for Nokia, the struggling smartphone maker reported its third consecutive billion-dollar loss in the second quarter this year, highlighting just how difficult is has become for vendors to thrive in a market dominated by just two companies. As part of Nokia’s continuing efforts to cut costs, the company on Friday told Yle that its last Finnish factory in Salo, Finland will close this fall. 780 workers will lose their jobs as a result, finding themselves among the 10,000 employees Nokia will lay off by the end of 2013.

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