Nokia to Cut 4,000 Jobs

Nokia is preparing for a massive jobs cull.

The Finnish mobile phone giant said in a statement on Wednesday that nearly 4,000 jobs would be axed at its units in Hungary, Mexico and Finland. The firm is planning to move its smartphone assembly work to Asia, a Reuters report added.

The struggling firm announced the closure of its Romania unit last year. The units where the currents cuts are planned were being monitored for some time to assess their sustainability.