Nokia to Cut 7,000 Jobs in Cost-Cutting Move
BERLIN — Nokia, the world’s leading cellphone maker, said Wednesday that it would slash about 7,000 jobs as part of a cost-cutting program that is deeper than expected.
The 12 percent reduction in the Finnish company’s global work force will help trim operating costs by €1 billion, or $1.47 billion, a 17 percent reduction, by the end of 2012. Analysts had expected job cuts of between 5,000 and 6,000.
Stephen Elop, the former Microsoft executive who became Nokia chief executive in September, said the cuts and reorganization were needed to prepare Nokia for its partnership with Microsoft. Nokia plans to eventually phase out the Symbian operating system as it rolls out smartphones next year running Microsoft Windows Phone software.