Nokia Fires 300, Outsources 820 to HCL and TCS

Nokia has decided to cut as much as 300 jobs and outsourced more than 850 to HCL and TCS. The company announced this in a statement. This comes before the company plans to announce its Q1 results on January 24. While the company has given the excuse of its biiger set of cost reduction plans which it had announced in June 2012, it brings into the focus its dwindling situation in the market.

According to the statement, "Nokia also plans to reduce its global IT organization by up to 300 employees. Nokia will offer employees affected by these planned reductions both financial support and a comprehensive Bridge support program. These are the last anticipated reductions as part of Nokia's focused strategy announcement of June 2012."

Later it clarifies on the geographies in which the layoffs happened. The majority of the employees affected by these planned changes are based in Finland. Nokia is beginning the process of engaging with employee representatives on these plans in accordance with country-specific legal requirements.

After CEO Stephen Elop took ouver in 2010, Nokia has laid off nearly 16,000 people in its mobile and location division. The company now has workfoce of around 44,600 employees.