3,500 heads to roll. More may come soon.
Nokia has announced it will be “improving efficiencies in manufacturing, Location & Commerce, and supporting functions.” That of course, is code for job cuts, which are expected to be around 3,500 in this casualty. The firm had already let go nearly 4,000 employees earlier this year.
The job cuts are the result of the closure of Location & Commerce businesses in Bonn, Germany and Malven, US; and the Cluj manufacturing plant in Romania. The plants are expected to be shut down by the end of 2011. Nokia said it will also review their Finland, Hungary and Mexico manufacturing plants for their potential in the “long-term”.
“We are seeing solid progress against our strategy, and with these planned changes we will emerge as a more dynamic, nimble and efficient challenger. We must take painful, yet necessary, steps to align our workforce and operations with our path forward,” said Nokia CEO Stephen Elop.