Nokia to cut thousands of jobs in Finland

HELSINKI, FINLAND: Nokia is set to cut thousands of jobs in Finland as part of the strategic overhaul which it unveiled on Friday, the chairman of the local labour union said on Friday.

"It seems it means thousands of jobs in Finland," said Chairman Antti Rinne from white collar union Ammattiliitto Pro.

The Finnish government said it was prepared to help people find new jobs.

Nokia's chief executive Stephen Elop confirmed to a press conference in London the company will cut jobs in Finland and elsewhere. 

"There will be substantial reductions in employment in various locations around the world, and that too will affect Finland," Elop said, adding it was too early to estimate how many jobs might be cut.

"There will be substantial reductions in employment in various locations around the world, and that too will affect Finland," Elop said in London, adding it was too early to estimate how many jobs might be cut.

"This is the biggest structural reform which has ever impacted new technology in Finland," Economy Minister Mauri Pekkarinen said in a statement. "Finland will remain our home," Elop said in the press conference.

Nokia and Nokia Siemens Networks employed some 132,000 people at the end of last year, of those 19,800 in Finland.

More than 6,000 people work for Nokia's research and development in four Finnish cities.

New Strategies

Elop also announced some more strategies for the company. According to a Wall Street Journal report, other strategies announced by Elop on Friday include:

- MeeGo platform, co-developed with Intel becomes open-source

- New organizational structure with two distinct business units: Smart Devices and Mobile Phones

- Smart Devices will focus on high-end smartphones and be responsible for the Windows Phone portfolio

- Mobile Phones will focus on growth markets

- Symbian, Nokia's own platform, to become a franchise platform

- Nokia Siemens Networks remains as separate reporting entity

- 2010 to 2012 period to become transition years