HELSINKI 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)
Trending On Reuters
India's biggest automaker by revenue reported a drop in quarterly net profit due to a spike in costs despite steady sales of its luxury Jaguar Land Rover unit and an increase in demand for its cars in its home market. Full Article
Shake-up in key Samsung assets to cement heir's grip as succession looms Full Article