Nokia Layoffs Job Cut: fires 1000 employees through voluntary departures: Finance Trading Times

Nokia Layoffs Job Cut: fires 1000 employees through voluntary departures

The news is not good for the employees of Nokia Corporation, the global leader firm in the business of cell phones or mobile phones and accessories. The recession is taking a toll on all sectors. The latest additon to the list of companies going for layoffs is the Nokia. No one seems to be shielded from the effect of recession. It the Nokia Company, which have decided to go for the layoff. The layoffs are said to be a part of the restructuring exercise at Nokia. Nokia Layoffs

How many employees will be fired in the Nokia layoffs?
There could be around 1000 job cuts by the company. This will be around 16% of the total employee workforce.

What is the total no. of employees of Nokia?
Total No. of employees of Nokia is not known as of now.

How are the Nokia job cuts or layoffs structured?
The layoffs at Nokia are said to be part of the restructuring. These will be a part of the Voluntary Resignation Package.

When will the Nokia layoffs happen?
Since the layoffs will be a part of the Voluntary Resignation Package, the application period will be from March 2009 to until 1000 employees have opted for it and will close on May 31, 2009

Which location will be affected by the layoffs?
No information is available location wise, but it is learnt that this will be done on a global basis.

How much savings can be made by the company from the layoffs?
No information is available about the savings to be made.

What is the primary reasons for Nokia layoffs?
Major reason are the efforts by the company to increase cost-efficiency and adapt to the challenging market environment. Declining demand, no fresight of economic revival is the also a reason quoted by the company for voluntary layoffs.

Any other news about Nokia layoffs
As per "As part of its previously announced plans to increase cost-efficiency and adapt to the challenging market environment, Nokia today announced new voluntary measures aimed at reducing personnel-related costs and lessening the need for involuntary redundancies," the company said in a statement.
Let's hope that alternative jobs are available to the affected employees of Nokia Layoffs Job Cut
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