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Nokia cuts 7,000 jobs in bid to slash costs

28 April 2011 08:23 (UTC +04:00)

Baku - APA-Economics. Nokia will axe 7,000 jobs and outsource its Symbian software development unit to cut $1.46 billion U.S. in costs as it struggles to compete in the world smartphone market, Ottawa Citizen reported.

On Wednesday, Nokia, the worldâ€™s largest phone maker by volume, detailed an overhaul of its phone business following its decision to start using Microsoft software instead of its own Symbian platform.

The move includes laying off 4,000 staff and transferring another 3,000 to services firm Accenture â€” a total of 12 per cent of its phone unit workforce.

Accenture will take over Nokiaâ€™s Symbian software activities and will become a primary software partner for future smartphones running on Microsoftâ€™s Windows platform.

Nokia said most of the 4,000 layoffs will take place in Finland, Denmark and Britain, with all workers staying on the payroll through 2011.