Nokia to cut 10,000 jobs, divest assets

Bolaji Ojo, EETimes
6/14/2012 10:34 AM EDT

Nokia Corp. has replaced three senior executives, including the head of its mobile phone division. And it plans to reduce payroll by up to 10,000 as it struggles to restore profitability and improve its competitive position against companies like Apple Inc. (Nasdaq: AAPL) and Samsung Electronics Co. Ltd. (Korea: SEC).

In a press release Thursday (June 14), Nokia announced the appointment of Juha Putkiranta as head of operations, Chris Weber as vice president of sales and marketing, and Timo Toikkanen as head of the mobile phone division, replacing Mary McDowell. The company also announced the departure of Jerri DeVard, its head of marketing, and Niklas Savander, its executive vice president of markets.

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