Authors: Jeanette Torres
(NEW YORK) -- Finnish cellphone maker Nokia announced on Thursday it's cutting up to 10,000 positions worldwide in an effort to reduce its operating expenses and return the company to profitable growth.
The job cuts are expected to be rolled out by the end of 2013.
"These planned reductions are a difficult consequence of the intended actions we believe we must take to ensure Nokia's long-term competitive strength," Nokia's President and CEO Stephen Elop said in a statement.
Some of those actions include closing down facilities devoted to research and development projects in Ulm, Germany, and Burnaby, Canada, and a manufacturing facility in Salo, Finland.
The company says these measures will help reduce costs by an additional 1.6 billion euros by the end of 2013.
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