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January 18, 2013

Nokia to lay off over 1,000 IT jobs to reduce costs

Majority of the employees affected by the planned changes are based in Finland.

By CBR Staff Writer

Nokia is planning to lay off more than 1,000 information technology jobs in order to reduce costs and streamline its operations.

Nokia will eliminate 300 jobs in its IT sector and transfer about 820 employees to HCL Technologies and Tata Consultancy Services, which have operations in Finland.

The company said the majority of the employees affected by these planned changes are based in Finland.

"Nokia believes these changes will increase operational efficiency and reduce operating costs, creating an IT organization appropriate for Nokia’s current size and scope," the company said.

The latest job cuts are part of the company’s plans announced in June 2012 to lay off 10,000 jobs globally.

In November 2011, Nokia said it would cutl 17,000 of its 74,000 workforce in order to reduce costs by €1bn by the end of 2013.

Last year, Nokia had revealed plans to sell its headquarters in Finalnd as part of its move to discard non-core assets, while maintaining its corporate base in the country.

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