Nokia: Global Job Cuts May Not Significantly Affect India Headcount

Date : 06/14/2012 @ 9:09AM
Source : Dow Jones News
Stock : Nokia Corp. Sponsored American Depositary Shares (NOK)
Quote : 5.72  0.35 (6.52%) @ 4:03PM

Nokia: Global Job Cuts May Not Significantly Affect India Headcount

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By Dhanya Ann Thoppil

BANGALORE--The Indian unit of Nokia Corp. (NOK) said Thursday it doesn't expect any "significant impact" on its local headcount from the Finnish handset maker's plan to cut 10,000 jobs globally.

"The planned changes will impact Nokia employees throughout our operations globally," a spokeswoman for the company told Dow Jones Newswires. But, "we don't see significant impact on India operations."

She didn't elaborate.

In India, Nokia has close to 11,000 staff, including more than 8,000 at its manufacturing plant in the southern state of Tamil Nadu.

Nokia earlier Thursday announced sweeping changes to its business, including job cuts and a broad management shake-up, as the company cut its earnings outlook for the third time in a little over a year.

The company -- being battered by bruising competition both at the expensive end of the market from Apple Inc.'s (AAPL) iPhone and from cheaper devices running Google Inc.'s (GOOG) Android software -- said competition in the mobile industry had hit its smartphone business "to a somewhat greater extent than previously expected."

In India, Nokia was the No. 1 mobile-handset maker in terms of shipment in 2011, with an about 28% market share, according to research firm IDC.

-Write to Dhanya Ann Thoppil at dhanya.thoppil@dowjones.com

 
 



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