In Finland Nokia to Cut Over 1,000 Jobs: On Friday, the Finnish telecommunications giant Nokia announced that it would terminate over 1,000 jobs in India.
In Finland Nokia to Cut Over 1,000 Jobs
Worldwide Nokia has 104,000 employees and out of them some 7,000 are in Finland. Of the cutbacks now 500 will going to affect Espoo and the rest operations in Tampere and Oulu.
Nokia is adjusting its staff worldwide and its operations by following the takeover of Alcatel-Lucent. In the annual costs in synergy the company has a worldwide target of saving of EUR 900 million i.e. about $1 billion.
Nokia has said earlier this week, it had signed an exclusive 10-year licensing deal with the Finnish company HMD Global Oy to create the Nokia-branded tablets and phones.
By covering both brand and the intellectual property rights, Nokia said that it will receive royalty payments from the HMD for sales of the Nokia-branded mobile products.
Once the world’s biggest maker of the mobile phones i.e. Nokia was wrong footed by the rise of the smartphones and was eclipsed by Samsung and Apple. In 2014 it sold its handset business to Microsoft.
Although it has had to wait due to the non-compete deal with the Microsoft, it however held on to its phone patent and getting started to prepare a comeback by the brand-licensing.