Nokia to Cut 4,000 Jobs in Restructuring

 By 
Todd Wasserman
 on 
Nokia to Cut 4,000 Jobs in Restructuring
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The cuts affect workers at three factories -- Salo, Finland; Komarom, Hungary; and Reynosa, Mexico. Those factories will focus on smartphone product customization, according to a release from Nokia. Device assembly, which had been executed at the factories, will now be done in Asia "where the majority of component suppliers are based."

The jobs are expected to be phased out throughout the year.

Though Nokia had announced a plan to "align" its workforce last September that included the closing of a factory in Cluj, Romania, the extent of the cuts had not been previously disclosed.

Nokia's cuts come as the company is transitioning from phones based on the Symbian OS to Lumia phones that use Windows Mobile. Nokia lost $1.4 billion in the four quarter as revenues fell 21% from the year-earlier period.

The company's continuing decline in market share prompted another round of cuts in April 2011 that included the loss of 4,000 jobs in Denmark, Finland and Britain. The company also transferred 3,000 employees working on Symbian to Accenture.

As of Wednesday afternoon, EST, Nokia's stock price was up about 1% on the news.

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