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Embattled Nokia cuts 3 500 jobs

30 Sep 2011

Nokia, once the leading mobile phone manufacturer, has announced that it will cut a further 3 500 jobs in 2012 in an effort to stem its losses as its global market continues to shrink in the face of stiff competition from other smartphone makers.

It will also inject about €500-million into its network equipment joint venture with Siemens.

The company has confirmed that it will close its manufacturing plant in Cluj, Romania by the end of this year, and 2 200 people working at the plant will be jobless. Other cuts will come from people employed in Nokia's supply chain operations in Europe.

The restructuring of Nokia's navigational services division, which includes digital mapping, will lead to another 1 300 jobs being lost in the company's operations in Bonn, Germany and Malvern, Pennsylvania.

The additional 3 500 jobs being cut follow Nokia's announcement in April this year that it would retrench 7 000 people in its operations throughout the world.

The company is trying to cut its operational expenditure by $1,5-billion by 2013.

Read the full article on www.iol.co.za.
View Nokia's Press Announcement.