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Nokia Cutting 10,000 Jobs

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PCMag: Nokia has announced major restructuring plans that will result in layoffs for up to 10,000 employees. In addition, three top executives will exit the company, and the struggling Finnish smartphone maker will also shutter three locations in Germany, Canada, and Finland. "With these planned actions, we believe our Devices & Services business has a clear path to profitability," said Nokia CFO Timo Ihamuotila.

The company plans to shift its focus to its Lumia smartphones and will soon introduce lower-cost phones under the Lumia name.

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