Nokia to Cut 7,000 Jobs in Cost-Cutting Move
BERLIN — Nokia, the world’s leading cellphone maker, said Wednesday that it would eliminate about 7,000 jobs as part of a cost-cutting program that was 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 that 5,000 to 6,000 jobs would be cut.
Stephen Elop, the former Microsoft executive who became Nokia’s chief executive in September, said the cuts and reorganization were needed to prepare for its partnership with Microsoft. Nokia plans to eventually phase out the Symbian operating system as it rolls out smartphones next year running Microsoft’s Windows Phone software.
Gartner may want to revise their Symbian projections…