Nokia and Vodafone cut jobs

Vodafone is to cut 500 jobs in the UK, while Nokia has organised a voluntary resignation package that it hopes will cut at least 1,000 employees worldwide.

Nokia will also cut around 100 jobs in its mobile advertising business, according to a Reuters report.

"As customers look for best value in their mobile services, Vodafone intends to reduce its cost base whilst continuing to invest in new products and services to meet changing customer needs," said a Vodafone spokesman.

Nokia explained that, in addition to encouraging resignations, which will have to be completed by the end of May, it will actively encourage unpaid leave.

"The response from employees and employee representatives in proposing ideas to help reduce personnel-related costs has been encouraging," said Hallstein Moerk, Nokia's head of human resources.

"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."