10,000 employee of Nokia will be out of work in the year 2013 as the Finnish company has decided to cut jobs under the cost saving measures.
Nokia is undergoing a bad phase as its shares went down by more than 11 percent on the Helsinki stock exchange. Very recently Nokia also lost the world number one ranking of mobile maker, which the company has held for 14 years.
Many facilities that used to be a center of Nokia's research and development will also be closed at Ulm, Germany, Burnaby, Canada. It will also close its manufacturing plant in Salo, Finland.
Stephen Elop Nokia's Chief Executive said," These planned reductions are a difficult consequence of the intended actions we believe we must take to ensure Nokia's long-term competitive strength".
Nokia is trying to reduce cost up to 1.6 billion euros ($2.0 billion) by the end of next year
There are 1,22,148 employee in Nokia (as of 31 March 2012). Nokia is still one of the world's biggest mobile phone makers.
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