Eurobites: Unions Predict Up to 15,000 Nokia Job Losses

Nokia Corp. (NYSE: NOK) is on course to slash up to 15,000 jobs worldwide as part of its cost-cutting program, according to a senior union official at the vendor's Oulu site in Finland. As Reuters reports, Nokia announced in April that it planned to create savings of $1 billion in operating costs by 2018, but it hasn't put a firm figure on the number of redundancies that will entail. Nokia declined to comment on the estimate, which was made by Risto Lehtilahti, a trade union shop steward, after consultation with "union contacts." Nokia surprised the industry last week by announcing a return to consumer devices, albeit via a convoluted licensing agreement with a subsidiary of Taiwan's Foxconn. (See Nokia to Slash Jobs Following AlcaLu Merger and Nokia Plays It Smart With Major Mobile Devices Brand Deal.)

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