Nokia's Alcatel-Lucent Acquisition Prompts Worlwide Job Cuts

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Following Nokia's acquisition of rival Alcatel-Lucent, is the reduction of its worldwide workforce as part of the cost-cutting program. The takeover is purposed to help Nokia in the race with Sweden's Ericsson and China's Huawei where market growth is restricted and strong competition are aggravating the prices. The firm already had talks with labor unions on Wednesday about the reported job cuts.

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Nokia, Germany, Smartphone, Job cuts

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