Nokia cuts more than a thousand jobs in Finland

HELSINKI (Reuters) - Nokia is cutting 1,032 jobs in Finland as part of a cost-cutting program following its acquisition of Alcatel-Lucent, the telecom network equipment maker said in a statement on Friday.

Finland's biggest company has cut thousands of jobs in its home country over the past decade as its once-dominant phone business was eclipsed by the rise of smartphone rivals.

Nokia started the latest cost cutting program in April and is targeting 900 million euros ($1 billion) of operating cost synergies from the Alcatel deal by 2018.

The company has declined to give an overall figure for global job cuts, but has said it in talks with employee representatives in about 30 countries.

Nokia employs about 104,000 people worldwide, with about 6,850 in Finland, 4,800 in Germany and 4,200 in France.

($1 = 0.8910 euros)

(Reporting by Tuomas Forsell; editing by David Clarke)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• US yields rise amid Iran worries, broader selloff 
• Airbus targets A350F maiden flight in September, sources say
• US advisory body says China's data dominance gives it AI advantage