New round of layoffs sweeps Nokia

Nokia Layoffs 2013

Nokia (NOK) confirmed that it is offloading more than 1,000 jobs as part of an effort to cut costs as its struggles continue. The Associated Press reports that Nokia will cut 300 IT jobs and outsource 820 more to HCL Technologies and TATA Consultancy Services, both of which are based in India but have facilities in Finland. Nokia confirmed the moves and noted that they are part of a larger effort announced last June, in which Nokia will trim 10,000 jobs in an attempt to save €1.6 billion by the end of this year. Nokia reported last week that it sold 4.4 million Windows Phones in fourth quarter, a clear improvement but further evidence that any comeback Nokia mounts will build very slowly.

Source:
AP
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