Nokia to cut over 1,000 IT jobs

HELSINKI Thu Jan 17, 2013 3:14pm IST

A man using his mobile phone walks under a Nokia logo in Shanghai December 6, 2012. REUTERS/Aly Song/Files

A man using his mobile phone walks under a Nokia logo in Shanghai December 6, 2012.

Credit: Reuters/Aly Song/Files

Stocks

   

HELSINKI (Reuters) - Finnish mobile phone maker Nokia (NOK1V.HE) said it would cut over 1,000 information technology jobs as part of its restructuring plan aimed at stanching its cash bleed.

It said 820 employees will transfer to HCL Technologies (HCLT.NS) and Tata Consultancy Services (TCS.NS) while 300 jobs will be elminated altogether.

The latest cuts, mostly in Finland, are part of plans announced last June to cut 10,000 jobs gobally. The company has cut around a third of its workforce under Chief Executive Stephen Elop.

Once the world's biggest mobile phone maker, Nokia has fallen behind Apple's (AAPL.O) iPhone and Samsung's (005930.KS) Galaxy phones in the lucrative smartphone market.

Nokia shares were flat, while HCL shares rose 4.8 percent and Tata Consultancy shares rose 1.2 percent in Mumbai.

(Reporting by Terhi Kinnunen and Ritsuko Ando; Editing by Hans-Juergen Peters)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Economic Pulse

REUTERS SHOWCASE

Deregulation Impact

Deregulation Impact

Private fuel retailers to dip toe, not dive back, into India  Full Article 

Gold Import

Gold Import

RBI will not change gold import rules - sources  Full Article 

Idea Results

Idea Results

Idea Cellular Q2 profit up 69 percent  Full Article 

An RBI First

An RBI First

RBI releases minutes of financial stability council's Aug meet  Full Article 

Global Shares

Global Shares

Japanese stocks lead shares worldwide, IBM weighs on Dow  Full Article 

IBM Chip Unit

IBM Chip Unit

IBM to pay Globalfoundries to take chip unit  Full Article 

IBM Earnings

IBM Earnings

IBM ditches 2015 operating EPS target, shares slump 7 pct  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage