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Edition: U.S. Article Comments (1) Follow Reuters Facebook Twitter RSS YouTube Read We should have been safe with Sony, say gamers 8:27am EDT Royal wedding snapshots: Naked Kate, but no glitter balls 11:42am EDT UPDATE 1-Q+A-What's going on at Japan's damaged nuclear power plant? 8:30am EDT Lindsay Lohan makes clean breast of things for Leno | 5:58am EDT Indian guru Sai Baba buried in state funeral, thousands grieve 2:54am EDT Discussed 147 Texas governor calls for prayers for rain 138 Obama sees no magic bullet to push down gas prices 66 U.S. sends drones to Libya as battle rages for Misrata Watched Lohan on Leno, Cole on "X Factor" Tue, Apr 26 2011 Tornado caught on security camera video Tue, Apr 26 2011 Thousands at Sai Baba funeral 6:36am EDT Nokia axes 7,000 jobs to slash costs Tweet Share this By Tarmo Virki, European Technology Correspondent HELSINKI (Reuters) - Nokia will axe 7,000 jobs and outsource its legacy Symbian software to slash 1 billion euros ($1.46 billion) of costs as it struggles to compete in the fierce smartphone... Email Print Related News Elop seen steady hand for shaky Nokia 11:18am EDT Analysis & Opinion Tech wrap: Sony admits PlayStation Network privacy breach Paul Allen’s “Idea Man”: his inside story of the founding of Microsoft Related Topics Technology » Hot Stocks » Asian Markets » Stocks A corporate logo is displayed at the Nokia flagship store in Helsinki in this picture taken September 29, 2010. Credit: Reuters/Bob Strong By Tarmo Virki, European Technology Correspondent HELSINKI | Wed Apr 27, 2011 11:18am EDT HELSINKI (Reuters) - Nokia will axe 7,000 jobs and outsource its legacy Symbian software to slash 1 billion euros ($1.46 billion) of costs as it struggles to compete in the fierce smartphone market. Nokia, the world's largest phone maker by volume, on Wednesday detailed an overhaul of its phone business following its decision to start using Microsoft software instead of its own Symbian platform. The move includes laying off 4,000 staff and transferring another 3,000 to services firm Accenture - a total 12 percent of its phone unit workforce. Accenture will take over Nokia's legacy Symbian software activities and support future smartphones, including those running on Microsoft's Windows platform. Shares in Tieto, a key local supplier of services to Nokia, dropped more than 3 percent. Investors welcomed the Accenture deal as a quicker and cheaper way to exit its Symbian operations than full-scale layoffs requiring big severance packages, sending Nokia shares 3 percent higher on the Helsinki stock exchange. "This is about keeping focus within Nokia on Windows Phone. It helps to get rid of any doubts on where this company is going," said Gartner analyst Carolina Milanesi. "For Accenture this opens up opportunities in mobile application development," Milanesi said. The deal enables Nokia to cut annual business research and development costs by 1 billion euros, or 18 percent, by 2013 from 5.65 billion in 2010. "Restructuring had been widely expected but Nokia will be hoping that the transfer of 3,000 of jobs to Accenture will help cushion the blow as it ramps down its Symbian investments," said Ben Wood, head of research at CCS Insight. Nokia's market share in smartphones has fallen sharply over the past few years as it loses out to Apple and other manufacturers of high-end handsets. "The competitive environment has changed rapidly," Nokia's Chief Executive Stephen Elop told a news conference in Helsinki, while outlining which parts of operations will be hit the most. Nokia said most of the 4,000 layoffs will take place in Finland, Denmark and Britain, with all workers staying on the payroll through 2011. Nokia hired Elop from Microsoft last year to replace Olli-Pekka Kallasvuo, in a bid to compete more effectively in the smartphone market. He is the first non-Finn to run the company, which evolved from a rubber boots-to-TVs conglomerate into a global mobile phone maker in the 1990s. FINNISH COMPANY In its native Finland, Nokia will cut 1,400 jobs. "This went slightly better than expected, because Nokia transfers Symbian development. These 1,400 people to be laid off are mainly MeeGo coders and they should have quite good chances to find new jobs," said Pertti Porokari, chairman of the Union of Professional Engineers in Finland. Nokia's telecom gear arm Nokia Siemens Networks cut around 9,000 jobs after it started operations in 2007. Nokia said it would wind down its large operations in Copenhagen, cutting 950 jobs there, and close its second headquarters in White Plains, New York. The move crushed Finnish media speculations of Nokia planning to move its headquarters to the United States. "Finland absolutely remains in the heart of Nokia's future," Elop said. Job cuts at Finland's flagship company is a blow to confidence in the country, already struggling with unemployment of around 8 percent. Worries about jobs and possible cuts to social welfare fueled the popularity of the populist and eurosceptic True Finns party in the country's general election earlier this month. (Additional reporting by Terhi Kinnunen and Ritsuko Ando; Editing by Dan Lalor and Erica Billingham) Technology Hot Stocks Asian Markets Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (1) ulludapattha wrote: In other words, 3000 people working for Nokia R&D in their Symbian outfit have been sentenced to an extended hanging noose around their necks! Accenture will eventually get rid of them when this dying workhorse known as Symbian will finally die. Nokia CEO Stephen Elop dumped the Symbian platform in February as in his own words the platform had “no chance to succeed in the future”. When Accenture finally kills the Symbian platform in due course Nokia can proudly say: “Nokia did not kill workhorse Symbian. It was Accenture.” Neatly done Mr. Elop! Apr 27, 2011 5:37am EDT -- Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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