Nokia to Cut 1,800 Jobs, Posts Strong Profit
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Handset maker Nokia Corp. (NOK
) said Thursday that will lay off 1,800 workers as it seeks to cut costs in its Symbian Smartphone operation.
CEO Stephen Elop said that Nokia "faces a remarkably disruptive time in the industry, with recent results demonstrating that we must reassess our role in and our approach to this industry," The Associated Press reported.
The news came as the world's top mobile phone maker, reported operating profit for the third quarter of 403 million euros ($565 million), compared with a loss of 426 million euros a year earlier.
The company sold 110.4 million devices in the third quarter, a 2% increase from a year earlier.