Nokia to Fire 300 People, Will Transfer 820 to TCS and HCL
On Thursday Nokia has announced that it will cut 300 jobs because of restructuring inside the company. Company wants to reduce the operating cost to increase the profit. It will also transfer 820 employees to HCL Technologies and Tata Consultancy Services.
“As part of the planned changes, Nokia plans to transfer certain activities and up to 820 employees to HCL Technologies and TATA Consultancy Services,” the company said in a statement.
The plan would increase efficiency, reduce costs and create an IT organisation “appropriate for Nokia’s current size and scope,” it added.
Majority of employees affected by this are based on Finland.
Nokia was the number one mobile phone maker for more than one decade. But Samsung and other Android smartphones has affected the growth of Nokia. It has also posted six straight quarterly losses.