News

Nokia axes more than 600 jobs on back of poor results

Antony Savvas

Nokia is making more 600 staff redundant on the back of poor third quarter results. And more jobs could be lost as a result of a site re-location.

The company's revenues and profits have fallen due to a saturated phone market in developed economies, coupled with the global recession.

To cut costs, Nokia is axing 450 sales and marketing staff - with around 100 of those to go in Finland - and another 130 in R&D. Around 100 of the R&D jobs will go in Finland. Nokia hasn't specified where the rest of the sales and marketing jobs will go.

Nokia also plans some smaller workforce adjustments in global process operations. These adjustments are estimated to affect around 35 employees, of which almost all are in Finland, said Nokia.

In addition, Nokia plans to close its Turku site in south-west Finland and relocate those activities predominantly to Salo, which stands between Turku and Helsinki.

Nokia currently has 220 employees working in the Turku office and the aim is that the employees would continue at Nokia's site at Salo or at other sites. More jobs may be lost as a result of the re-location though.

The job cuts will come into affect on 1 January, said the company. The Turku site will be closed by the end of that month.

See our Special report: Redundancy


Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy
 

COMMENTS powered by Disqus  //  Commenting policy