Perlos to cut 4000 jobs

Finland based company Perlos has said that they would cut as many as 4000 jobs worldwide. The company is a major supplier for the world’s largest mobile phone maker Nokia.

This means that the company would be cutting a third of its entire workforce with the aim of returning back to profitability.

Perlos said in a statement on this decision: “The company’s board of directors has today taken the decision to launch a profitability improvement programme, with the aim of considerably improving Perlos’ continuing operations’ operating profit” and achieving annual savings of around 100 million Euros.”

Perlos chief executive and president Matti Virtanen added: “Perlos has a healthy and competitive core business, but its cost structure does not correspond to the current level of net sales.”

Virtanen added: “Nokia’s share of our sales of low-end mobile phone components is not at the required level.”

He further said that the company is now looking to expand its client base.

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