Nokia To Cut 10,000 Jobs Worldwide

CNN reports:

Nokia said Thursday it will cut up to 10,000 jobs worldwide by the end of next year, part of an accelerated cost reduction program at the Finnish cellphone maker.

The company also warned that increased competition in the smartphone sector would hit its financial results in the second and third quarters, causing its operating loss margin to be bigger than previously forecast.

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Tom Kludt is a reporter for Talking Points Memo based in New York City, covering media and national affairs. Originally from South Dakota, Tom joined TPM as an intern in late-2011 and became a staff member during the 2012 election. He can be reached at tom@talkingpointsmemo.com.
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