Nokia said today it was in talks to cut 260 jobs from its main Finnish mobile phone plant as the world's largest handset maker seeks ways to cut costs in the weak mobile phone industry.
"In today's economic and market situation, Nokia's target is to sustain continuous strong financial performance and to increase its market leadership," Nokia said.
As a means to ensure and further develop its competitiveness, Nokia plans to streamline its mobile phone operations in Salo, Finland.
Nokia said it was starting talks with labour representatives regarding about 260 full-time employees in Salo. The planned changes are expected to be completed by the end of the first half of 2002.
Salo is one of Nokia's nine mobile phone manufacturing sites globally and employs around 5,200 out of total Nokia group staff of almost 60,000.
Nokia shares were largely unmoved on the announcement, off 4.5 per cent to euro 17.15.
