Nokia cuts more than a thousand jobs in Finland | Reuters

HELSINKI Nokia ( NOKIA.HE ) 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 ($1 billion) of operating cost synergies from the Alcatel deal by 2018.

Reuters May 21, 2016 00:45:07 IST
Nokia cuts more than a thousand jobs in Finland
| Reuters

Nokia cuts more than a thousand jobs in Finland
 Reuters

HELSINKI Nokia (NOKIA.HE) 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 ($1 billion) 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.

($1 = 0.8910 euros)

(Reporting by Tuomas Forsell; editing by David Clarke)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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