Nokia To Slash 3,500 Jobs By 2012

By MATTI HUUHTANEN

HELSINKI (AP) -- Nokia Corp. on Thursday announced a further 3,500 job cuts by 2012 as it strives to save costs while its global market share continues to fall in stiff competition against rivals.

The Finnish cellphone maker said it will close a manufacturing plant in Cluj, Romania, by the end of 2011 which will mean 2,200 job cuts when supply chain operations are adjusted too. Other changes will mean the loss of 1,300 job cuts, it said.