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Nokia CEO says substantial jobs cuts to come

HELSINKI, Feb 11, 2011 – The world\’s top mobile phone maker Nokia plans to significantly cut jobs as it transitions to a new strategy involving a partnership with software giant Microsoft, its chief executive said Friday.

"There will be substantial reductions in employment in various locations around the world and that too will affect Finland," Stephen Elop told reporters in London after the company announced major shake-up in the face of intense competition.

"We don\’t have any specific comments about who and what level of people will be hit," he added in a webcast.

In October, the company announced 1,800 job cuts.

The Finnish company said it had been in touch with the government, which described Nokia\’s job cuts as a severe blow to the country\’s employment prospects and its research and development ventures.

"This is by far the largest structural change ever to affect Finland\’s new technology sectors," Minister for Foreign Trade and Development Paavo Vaeyrynen and Minister of Labour Anni Sinnemaeki said in a joint statement issued Friday.

The ministers said Nokia\’s re-structuring threatens a large number of jobs in Finland, and added that Nokia had promised to be involved with the government in making the transition as painless as possible.

Nokia said earlier Friday it was adopting Microsoft\’s mobile phone platform as its primary operating system.

Elop also announced changes to the company\’s executive board.

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