Nokia, the worlds largest maker of phones, on tuesday said that they are going to cut 1700 jobs, approximately 3% of its work force, as demand continues to sag.
700 workers in espoo, finland might be laid off and the rest will be in asia, europe & north america. The layoffs are to take place in Nokia's devices and market divisions, which produce, market phones and in a unit responsible for long time corporate strategy.
It is the biggest job cut, since the economic slowdown of last year. They plan to reduce operating expenses aproximately 700 million euros, by the end 2010. That comes around 11% (approx) of their expenses.
Nokia announced the austerity measures on Jan. 22 as the company revealed plans to freeze salaries, hiring and nonessential travel and to offer severance packages to as many as 1,000 employees.
In another cost-cutting move, the company stopped designing phones for the Japanese market.
Tuesday, March 17, 2009
FILM
madhur bhandarkar direction film to be released soon.
pooja done for the starting work of the film.
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