Nokia looking for 1,000 volunteers for job cuts

Posted on Wednesday, Feb 25 2009 @ 00:11 CET by Thomas De Maesschalck
In a move to help avoid compulsory layoffs, phone maker Nokia is offering severance packages to the first 1,000 employees who volunteer to leave the company.
The global initiative is part of "previously announced plans to increase cost-efficiency and adapt to the challenging market environment," the company said in a statement on Tuesday.

Employees can apply for the package between March and May, Nokia said.

Nokia, which plans to slash annual costs at its key handset unit by more than 700 million euros ($897 million), has said it would continue efforts to cut operational expenses, looking at all areas and activities.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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