Nokia Plans To Reduce Manpower

Nokia Plans To Reduce Manpower

Nokia has become one of the many companies who plan to trim down its employee count to combat the global economic downturn.


The mobile maker announced its move to retrench around 600 employees  as a part of a restructuring strategy. The company will cut 450 jobs in production, sales, and marketing; while 130 workers from its main research center will be subjected to unemployment.



Nokia remains as the world's largest manufacturer of mobile telephones, with 112,262 employees in 120 countries. Just recently, the company recorded a decline in the market share and saw a 30 percent drop in its net income during the previous quarter. However, Nokia is still confident that the mobile industry will stay stable until the end of this year. It also anticipates an increase in smartphone sales which will help boost its overall revenues in light of the worldwide financial slump.