Nokia to Slash 3,500 Jobs by 2012

Nokia Corp. on Thursday announced a further 3,500 job cuts by 2012 as it strives to save costs and restructure while its global market share falls due to stiff competition in the smartphone sector.

The Finnish cellphone maker said it will close a manufacturing plant in Cluj, Romania, by the end of 2011 which will mean 2,200 job cuts, mostly at the plant, but will include personnel in supply chain operations throughout Europe.

Other changes in Nokia's location and commerce sector, which deals with navigational services, digital mapping and location platforms, will mean 1,300 job cuts worldwide. Nokia said it will also close the sector's operations in Bonn, Germany, and Malvern, Pennsylvania.

Read Full Article from ABC News

- Posted: 2011-09-29 11:44:10

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