Nokia Networks axes 1,800 staff
More networking industry woes
Nokia Networks, Nokia's mobile infrastructure arm, is taking an axe to its workforce as part of a programme to reduce costs and return its business to profitability.
The measures announced today include the loss of 1800 jobs at the company, which employs approximately 18,000, as part of corporate reorganisation designed to improve Nokia Networks' "efficiency and effectiveness".
The decisions to make one in 10 workers at Nokia Networks redundant comes after a warning last month that Nokia Networks would post a substantial loss for the first quarter of 2003, "as well as general market conditions in the network infrastructure business".
Up to 1100 of the 1800 planned personnel reductions will be in Finland, while the remainder will be divided among other countries. The reductions will be made in research and development, operations, sales and marketing and in support functions.
R&D remains a key focus for Nokia Networks despite the job cuts in that area, the company said. ®