Nokia will layoff up to 10,000 jobs around the world by the end of next year.
The cost cutting will help Nokia save $1.6 billion by the end of 2013, says the handset maker.
As part of the plan, the company also announced the acquisition of imaging specialists and all technologies and intellectual property from Scalado of Sweden.
The company has also shaken up its senior management, including appointing Juha Putkiranta, formerly senior vice president of supply chain, as executive vice president of operations, says CW.
Finally, the company will reduce expenses in research and development projects including the planned closures of offices in Ulm, Germany and Burnaby, Canada.
As part of the plan, the company also announced the acquisition of imaging specialists and all technologies and intellectual property from Scalado of Sweden.
The company has also shaken up its senior management, including appointing Juha Putkiranta, formerly senior vice president of supply chain, as executive vice president of operations, says CW.
Finally, the company will reduce expenses in research and development projects including the planned closures of offices in Ulm, Germany and Burnaby, Canada.
