Nokia to slash over 1000 tech jobs

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Nokia to slash over 1000 tech jobs

Finnish mobile phone maker Nokia has announced it will cut over 1000 information technology jobs as part of a restructuring plan aimed at stopping its cash bleed.

Some 820 employees will transfer to HCL Technologies and Tata Consultancy Services, while 300 jobs will be elminated altogether.

The latest cuts, mostly in Finland, are part of plans announced last June to cut 10,000 jobs gobally. The company has cut around a third of its workforce under Chief Executive Stephen Elop.

Once the world's biggest mobile phone maker, Nokia has fallen behind Apple's iPhone and Samsung's Galaxy phones in the lucrative smartphone market.

Nokia shares were flat, while HCL shares rose 4.8 percent and Tata Consultancy shares rose 1.2 percent in Mumbai.

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