Nokia Cuts 1,000 Jobs in New Restructuring

Will use voluntary departur

Nokia, the world's leading mobile phone maker, said on Feb. 24 it has launched new restructuring measures and plans to cut 1,000 jobs globally through voluntary departures.

"As part of its previously announced plans to increase cost-efficiency and adapt to the challenging market environment, Nokia today announced new voluntary measures aimed at reducing personnel-related costs and lessening the need for involuntary redundancies," the company said.

"The Voluntary Resignation Package will be open for application from March 1 until 1,000 employees have applied, closing at the latest May 31, 2009."

Last month, Nokia reported a 69% slump in fourth-quarter earnings due to falling handset prices and sales, and said it would launch a cost cutting programme that would include job losses to boost profitability.

The firm said at the time its goal was to achieve annual cost savings of more than 700 million euros (US$890 million).

Earlier this month, it announced it would reorganise its research and development operations in its native Finland and aimed to cut more than 400 jobs.

Copyright Agence France-Presse, 2009

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