Nokia seeking 1,000 voluntary resignations to cut costs

Nokia seeking 1,000 voluntary resignations to cut costs

World’s largest mobile phone maker Nokia has announced that they are seeking around 1,000 voluntary resignations to cut costs in their global operations.

The company said that they would open this new program next month.

Nokia is also planning to increase short-term unpaid leaves and sabbaticals.

The company has also appealed to employees that they take holiday time as payments, instead of cash, for overtime work this year.

Nokia said: “We have considered these and are now announcing voluntary initiatives that could contribute to our efforts to adjust our cost base to the current market environment. If successful, the voluntary initiatives will lessen the need for involuntary redundancies.”