Nokia to cut over 1,000 IT jobs, transfer staff to TCS, HCL

Nokia to cut over 1,000 IT jobs, transfer staff to TCS, HCL

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Helsinki:

Finnish mobile phone maker Nokia said it would cut over 1,000 information technology jobs as part of its restructuring plan aimed at stanching its cash bleed.

It said 820 employees will transfer to HCL Technologies and Tata Consultancy Services while 300 jobs will be elminated altogether.

The latest cuts, mostly in Finland, are part of plans announced last June to cut 10,000 jobs gobally. The company has cut around a third of its workforce under chief executive Stephen Elop.

Once the world's biggest mobile phone maker, Nokia has fallen behind Apple's iPhone and Samsung's Galaxy phones in the lucrative smartphone market. Nokia shares were flat, while HCL shares rose 4.8 per cent and Tata Consultancy shares rose 1.2 per cent in Mumbai.

Copyright @ Thomson Reuters 2013

Story first published on: January 17, 2013 14:39 (IST)

Tags: Nokia, HCL Technologies, Tata Consultancy Services, Samsung, Stephen Elop, Helsinki


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