Nokia axes 300 people, transfers 820 jobs to HCL and TCS

Nokia axes 300 people, transfers 820 jobs to HCL and TCS
Advertisement
Nokia said on Thursday it will cut up to 300 jobs in a restructuring of its global IT organisation.

"As part of the planned changes, Nokia plans to transfer certain activities and up to 820 employees to HCL Technologies and TATA Consultancy Services," the company said in a statement.

The Espoo-based company said the majority of those affected by the changes were based in Finland.

The plan would increase efficiency, reduce costs and create an IT organisation "appropriate for Nokia's current size and scope," it added.

"These are the last anticipated reductions as part of Nokia's focused strategy announcement of June 2012," the company said.

In June last year, the company said it planned 10,000 job cuts by the end of 2013 amid massive cost-saving measures.

Once the leader in mobile phones, Nokia has been losing market share as consumers move to smartphones powered by Apple's iOS or Google's Android operating system.

The company was the world's number one mobile phone maker for more than a decade but lost that title to Samsung in 2011 and has registered six straight quarterly losses.

Credit rating agencies have downgraded the beleaguered Finnish phone giant amid worries over its future profitability and its cash position.

However, shares in the company soared last week after it published partial fourth quarter earnings that were better than expected. It is scheduled to present its full fourth quarter and full-year 2012 earnings report on January 24.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Nokia, HCL, TCS, job cuts
Government approves 50 percent cut in CDMA spectrum auction price
Orange claims to have forced Google to pay for traffic
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us
© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »