Nokia to slash 3,500 jobs by 2012

Nokia has announced a further 3,500 job cuts by 2012 as it strives to save costs while its global market share continues to fall.

The mobile phone maker says it will close a plant in Romania resulting in 2,200 layoffs and restructure its location and commerce sector with a loss of some 1,300 jobs.

The planned layoffs are in addition to 7,000 worldwide job cuts announced in April through layoffs and outsourcing.

The Finland-based company has said it aims to cut costs by 1bn euros (£870m) by 2013 and catch up with top rivals in the tough smartphone market.

AP