Nokia Cuts 600, Trims Research centre (NOK)

Layoffs come to Nokia (NOK), the world’s biggest mobile phone maker: The Finnish company will cut some 600 jobs, especially in sales and marketing. Nokia will also cut back at its long-term R&D centre, where it “plans to sharpen its focus on fewer but stronger research areas.”

Nokia still has by far the biggest global mobile phone market share — 38% in Q3 — but competition is increasing, especially for high-end smartphone devices, where Apple (AAPL) and RIM (RIMM) are expanding their efforts.

See Also:
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