Nokia to shut German plant, cut 2,300 staff
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Nokia (NOK1V.HE), the world's top  cellphone maker, said on Tuesday it plans to close its plant in  Bochum, Germany, by mid-2008 and may cut up to 2,300 staff as  it moves production to lower-cost regions.
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German telecommunications giant Telekom on Saturday announced plans to take its Internet unit off the stock market in a â¬2.9 billion ($3.
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Nokia said the head of its networks  unit had resigned and another senior networks executive left,  marking the second round of departures of top management in two  weeks at the world's top mobile phone maker.
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German unions on Thursday called for a  consumer boycott of Nokia (NOK1V.HE) products to protest  against the cellphone maker's plans to close a German plant.
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Thousands of people marched through this west German city Tuesday to protest Nokia Corp.'s decision to close a factory, and a German official warned the move could weigh on Nokia's image and business.
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Top mobile phone maker Nokia plans to cut hundreds of jobs in Finland and abroad as it seeks to curb research spending, but said on Tuesday it would also boost production staff at a key handset plant.
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Nokia plans to fold all its mobile phone development efforts into a single new business unit.
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The world's top cellphone  maker Nokia on Tuesday cut its profit margin forecasts for the  next two years and joined market analysts in forecasting slower  growth for the global mobile phone market in 2007.
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Wireless carrier Sprint Nextel Corp   plans to lay off several thousand employees, the Wall  Street Journal reported on Monday.
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German unions on Thursday called for a  consumer boycott of Nokia  products to protest  against the cellphone maker's plans to close a German plant.
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Nokia, the mobile phone company, is standing by its decision to close its factory in Bochum, western Germany. About 2,300 employees are affected along with, according to trade union estimates, up to 2,000 jobs at suppliers and subcontractors. The Finnish company's decision has provoked indignation. The reasons for the public outrage are obvious: Nokia earns EU90,000 a year from each production worker - operating profit at Bochum runs at an annual EU134m. Nevertheless, production will now be shifted to Romania.
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The dispute between the German state of North-Rhine Westphalia (NRW) and Finnish phone maker Nokia intensified Wednesday after the state demanded Nokia pay back subsidies it received for a plant that is to be closed.
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Nokia said the head of its networks unit had resigned and another senior networks executive left, marking the second round of departures of top management in two weeks at the world&#39;s top mobile phone maker.
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Engineering firm Rolls-Royce says its plans to cut up to 2,300 jobs to reduce costs and improve efficiency.
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Motorola Inc. MOT.N, the world's No.  2 maker of cell phones, on Tuesday said it would cut 1,000 jobs  in three of its units as it puts its effort behind wireless  communications in an increasingly competitive market.
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Nokia , the world's top  cellphone maker, said on Tuesday it plans to close its plant in  Bochum, Germany, by mid-2008 and may cut up to 2,300 staff as  it moves production to lower-cost regions.
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T-Mobile, Germany's leading mobile phone operator, said it was planning to axe up to 2,200 jobs as part of a  one-billion-euro (1.3-billion-dollar) cost-cutting drive to boost profitability in face of current difficult market conditions.