Nokia to cut up to 10,000 jobs globally by end 2013

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http://www.digitalone.com.sg/news/article/19412

Finland's Nokia, one of the world's biggest mobile phone makers, announced Thursday that it planned to cut up to 10,000 jobs by the end of next year due to massive additional cost-savings measures.

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

Nokia was earlier this year bumped from the world's biggest mobile phone maker spot it had held for 14 years.

The company said it has been undergoing a major restructuring for more than a year would need to implement much bigger cost-saving measures than previously expected. It also announced a massive management reshuffle.

Nokia has since early 2011 been restructuring and phasing out its Symbian smartphones in favour of a partnership with Microsoft. That alliance has produced a first line of Lumia smartphones.

Nokia is depending heavily on the new phones to help it survive in a rapidly changing landscape with RiM's Blackberry, Apple's iPhone and handsets running Google's Android platform take growing bites out of its market share.