Nokia cuts another 330 jobs

Nokia plans to further scale back its R&D operations, culling up to 330 employees - around 2% of its research personnel.

The cutbacks will take place at Nokia's Oulu site in Finland - where up to 230 positions will be eliminated - and its Copenhagen site, where 100 employees will be let go, Nokia said
 
The handset maker said it would concentrate its efforts on fewer, more feature-rich handsets in a bid to stem the losses to its market share.
 
Nokia has around 17 000 R&D staff, including 2,000 in Oulu and 1,000 in Copenhagen.
 
Nokia has now announced around 4,000 job cuts this year, as part of a plan to save $1 billion in annual costs. Joint venture Nokia Siemens Network (NSN) this month revealed plans to cut 5,800 staff after posting a €1.1 billion loss.
 
NSN's losses and slumping handset sales dragged Nokia into the red by €913 million last quarter – its first quarterly net loss in over a decade.
 
Meanwhile NSN has confirmed that it pulled out of the auction for Nortel’s optical networking and Carrier Ethernet assets on the weekend.  The vendor said it could not justify a higher bid.
 
Reportedly, Ciena won the auction with a $769 million cash and stock bid.

 

 

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