Nokia Corporation (NYSE:NOK) announced this morning that they plan to align their workforce and will be consolidating some operations. As a result, there will be a massive layoff. Nokia will be cutting about 4,000 employees by the end of 2012. Most of these job cuts will take place in Finland, Denmark, and the U.K. Nokia will also be transferring all of their Symbian software jobs and 3,000 employees to Accenture Plc (NYSE:ACN).
Accenture will be providing Nokia with mobile software services for future smartphones. Nokia is employing nearly 131,000 people with about 12,000 being in Finland. Nokia plans to ramp up their smartphone development capacity based on the Windows Phone operating system.
Nokia CEO and President Stephen Elop said:
?At Nokia, we have new clarity around our path forward, which is focused on our leadership across smart devices, mobile phones and future disruptions.
However, with this new focus, we also will face reductions in our workforce. This is a difficult reality, and we are working closely with our employees and partners to identify long-term re-employment programs for the talented people of Nokia.?