Nokia troubles deepen as it looks to cut 10,000 further jobs

15/06/2012

Nokia has confirmed it will be cutting another 10,000 jobs globally in the coming months after warning that second-quarter losses from its mobile phone sector could be much worse than expected.

The cuts bring the total planned job losses at the Finnish group since Stephen Elop was named as chief executive in September 2010 to more than 40,000.

Nokia will also book additional restructuring charges of around €1 billion (£811 million).

The firm will close its last remaining plant in Finland at Salo although it will continue to conduct research there.

Development sites will also close at Ulm and Burnaby in Germany and Canada respectively.

Nokia announced earlier this year that it was looking to sell its luxury handset maker Vertu in an attempt to cut costs despite it still being the market leader.

"These planned reductions are a difficult consequence of the intended actions we believe we must take to ensure Nokia's long-term competitive strength," Mr Elop said in a statement.

Posted by Samantha Green

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