Nokia to cut up to 2,300 staff
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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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Nokia, the world's largest mobile phone maker, said it would cut costs in its Multimedia Business Group by shedding workers in the division's research and development department.
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Nokia plans to fold all its mobile phone development efforts into a single new business unit.
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Nokia Corp. on Tuesday cut its operating margin targets, blaming increased exposure to the network infrastructure business.Comment
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Nokia , the world's top mobile  phone maker, expects the global multimedia phone market to grow  to 120 million units this year from 80 million in 2006, its  Chief Executive Olli-Pekka Kallasvuo said on Wednesday.
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The Nokia Corporation said it would lay off up to 700 people globally, mostly in its enterprise business operation, to increase efficiency and improve competitiveness. The layoffs, expected within the next few months, include 340 workers in Finland. The cuts will affect research and development, related sales and marketing, as well as internal information technology operations, the company said. Nokia said it would try to transfer some workers to different posts.
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HELSINKI, Finland -- Nokia Corp. on Tuesday cut its operating margin targets, blaming increased exposure to the network infrastructure business. It also predicted global sales of mobile phones would grow by 10 percent in 2007.
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InfoWorld - Nokia plans to fold all its mobile phone development efforts into a single new business unit, reflecting the growing importance&#160;of its business of multimedia and Internet-enabled devices.
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The exact number of layoffs, which are focused in Nokia's multimedia division and mostly in Finland and Germany, will be decided later, said Kari Tuutti, head of the division's information department.
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Cingular Wireless, the nation's largest cellular phone company, plans to cut about 10 percent of its work force, or 7,000 jobs.
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Mobile phone maker Nokia will lay off 2,300 employees at a German plant and move production to lower-cost European sites, the company announced Tuesday.Nokia plans to close the plant in Bochum, Germany, by midyear. Nokia also plans to close an automotive business there and is negotiating with Sasken Technologies to sell a Bochum-based software research and development entity, the company said in a news release.The Bochum site was not &quot;globally competitive,&quot; Nokia said. Additional investments would not make the site competitive, the company said.Nokia, based in Finland, announced last March that it was opening a manufacturing plant in Romania. The company also has a plant in Hungary.Market changes and &quot;increasing requirements for cost-effectiveness&quot; mean that &quot;production of mobile devices in Germany is no longer feasible for Nokia,&quot; Veli Sundb&#228;ck, executive vice president of Nokia, said in a statement. &quot;It cannot be operated in a way that meets the requirements for global cost efficiency and for flexible capacity growth. Therefore we have to make this tough decision.&quot;Nokia will negotiate with employee representatives to &quot;reach a satisfactory solution&quot; for everyone involved, the company said.
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Georgia will cut the size of its military contingent in Iraq from 2,000 soldiers and other personnel to around 300 by next summer, the defense minister said Friday.
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ESPOO, Finland, June 8  /PRNewswire-FirstCall/ -- A total of 1 997 770 shares of Nokia Corporation ("Nokia")  were subscribed for between 3.5.2007 - 4.6.2007 based on Nokia's 2001, 2003 and 2005 employee stock option plans.
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The Wall Street Journal reports that the No. 3 cell phone operator in the country is preparing to lay off thousands of workers to help get its business back on track.
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Nokia Corp. increased its global market share of mobile phone handsets for a second successive quarter, reaching 30.9 percent with sales of 51.7 million units, market researcher Gartner Inc.
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Nokia Siemens Networks said Monday it will transfer some research and development operations, including 230 workers, to Finnish IT service provider Tietoenator in a further move to cut costs. via PR-inside.com
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The worldÂs largest drug company said that it would lay off almost 2,400 employees in what may indicate a wider retrenchment of the drug industry.