Fin24

Nokia to axe 10 000 jobs worldwide

2012-06-14 09:10

Paris - Loss-making Finnish cellphone maker Nokia plans to cut another 10 000 jobs globally and warned the second-quarter loss from its cellphone business would be larger than expected.

The cuts bring total planned job cuts at the group since Stephen Elop took over as chief executive in September 2010 to more than 40 000.

Nokia said it would book additional restructuring charges of around €1bn by the end of 2013.

Nokia stock has crashed more than 70% since it announced in February 2011 it was dropping its own Symbian smartphone operating software and switching to Microsoft's largely untried Windows Phone system.