Wed Feb 25, 2009 10:54 am
Nokia, the world's leading mobile phone maker, said it plans to cut 1,000 jobs globally through voluntary departures.
"As part of its previously announced plans to increase cost-efficiency and adapt to the challenging market environment, Nokia today announced new voluntary measures aimed at reducing personnel-related costs and lessening the need for involuntary redundancies," the company said in a statement.
"The Voluntary Resignation Package will be open for application from March 1 until 1,000 employees have applied, closing at the latest May 31, 2009."
Last month, Nokia reported a 69 percent slump in fourth-quarter earnings due to falling handset prices and sales, and said it would launch a cost cutting program that would include job losses to boost profitability.
The firm said at the time its goal was to achieve annual cost savings of more than $890 million.
Earlier this month, it announced it would reorganize its research and development operations in Finland and aimed to cut more than 400 jobs.
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