Nokia to cut up to 1,000 jobs

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HELSINKI (AP) - Nokia, the world's biggest cellphone maker, announced
plans today to cut as many as 1,000 jobs in its network operations worldwide
to improve efficiency and competitiveness in a weakening global market.

The layoffs will be made gradually but are expected to be completed by the
end of the year, Nokia said. The Nokia Networks division employs 23,000
while Nokia in total has sales in 130 countries and 60,000 employees.

Earlier this month, Nokia announced it will cut 300 jobs at a phone production
plant in Bochum, Germany, and gave a profit warning for the second quarter.

Arja Suominen of Nokia said most of the layoffs will be made abroad, with
some 200 job cuts in Finland.

''The central question is that we are adjusting ourselves to market conditions,
and in this way aiming to maintain our competitiveness in the long term,''
Suominen said.

Until recently, Nokia maintained optimism amid an industry slowdown and
largely had avoided the layoffs and losses announced by its chief rivals, LM
Ericsson of Sweden and No.2 mobile phone maker, U.S.-based Motorola.

But two weeks ago, it said an economic downturn in the United States - its
main market - had spread to other regions and ''the wireless economy as a

Nokia lowered its expectations for revenue growth from the 20 per cent
predicted in April to less than 10 per cent for the three-month period ending
June 30. It also said its earnings per share would be between 12 and 14 cents
instead of its earlier estimate of 17 cents.

In March, the Finland-based company announced 400 job cuts in its network
operations, and it laid off 800 people in Texas as it transferred some cell phone
production to South Korea and Mexico.

Last year, it sold 128 million handsets, 64 per cent more than in 1999. Its net
profit in 2000 was $3.5 billion (U.S.), up 50 per cent from the previous year.
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2001-6-29 -04:00
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