Nokia Cuts 3,500 Manufacturing Jobs

Finland's Nokia said it will cut 3,500 manufacturing jobs, in addition to the 6,800 research and development job cuts announced earlier this year, as it continues to realign its business, cut costs and refocus manufacturing operations closer to customers in Asia.

The job cuts are the latest in several restructuring efforts that so far haven't done much for the troubled telecommunications-equipment maker's share price. Nokia said in April it plans to reduce its global work force by about 4,000 employees in Denmark, the U.K. and Finland by the end of 2012. Including the job cuts in this latest announcement, Nokia has now reduced its work force by 7.4%.