Nokia Slashes Network Division Staff
With continued declines forecast for the wireless infrastructure market, Nokia Corp. announced it will cut more than 10 percent of its employees in its networks unit and streamline its research and development spending as it attempts to return the division to profitability.
The company says that around 1,100 of the 1,800 layoffs will come from its Finland offices, bringing the network unit’s work force to 15,000 from 17,300 at the end of 2002.
This is the second round of layoffs since the first of the year for the company. In February, the Networks Division reduced its staff by 550 people.
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