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Nokia Cutting 10,000 Jobs in Global Restructuring Effort

Nokia last week announced plans to cut thousands of jobs as part of a global restructuring plan. Nokia's plan is to significantly reduce its operating expenses and invest heavily in the Lumia brand, as well as location-based services, and the profitability and competitiveness of its feature phone business.

Nokia will be making reductions within certain R&D projects, which will in turn see its facilities in Ulm, Germany and Burnaby, Canada shut down. The consolidation of certain manufacturing operations will also mean the end of its manufacturing facility in Salo, Finland. The Salo facility will continue research and development. Nokia also announced plans to streamline IT, corporate and support functions as well as planned reductions related to non-core assets.

As a result of all of this, Nokia will be cutting 10,000 people by the end of next year. Nokia CEO Stephen Elop called the reductions a 'difficult consequence' of the actions the company feels it has to take to maintain competitive strength.

"We do not make plans that may impact our employees lightly, and as a company we will work tirelessly to ensure that those at risk are offered the support, options and advice necessary to find new opportunities."

Nokia has said the cuts will be global did not offer details on which divisions will be affected.

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