Nokia to start job cuts following Alcatel deal

[HELSINKI] Finland's Nokia launched a job cutting programme on Wednesday following its acquisition of France's Alcatel-Lucent, but did not say how many positions it was planning to axe.

The company said it was sticking to its target for 900 million euros (S$1.38 billion) of operating cost synergies from the deal by 2018.

"Reductions will come largely in areas where there are overlaps, such as research and development, regional and sales organizations as well as corporate functions," Nokia said in a statement, adding it planned to report on the details alongside its quarterly earnings.

REUTERS