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Euronews: Nokia Confirms Salo Job Cuts

Nokia Corp. (NYSE: NOK), BT Group plc (NYSE: BT; London: BTA) and Telefónica UK Ltd. (O2) proffer something for the weekend in today's jaunt through the EMEA telecom headlines.

  • Following Thursday's news on Nokia Networks redundancies in Finland comes post-consultation confirmation that around 1,000 jobs are to go at Nokia's plant in Salo (in western Finland), reports YLE. Assembly work is moving to Asia, with around 600 employees being kept on in Salo for handset "tailoring" work. The redundancies were not unexpected, having been originally announced in February. (See Nokia Cuts 4,000 More Jobs and Nokia Unveils Major Revamp.)

  • Reflecting its perky results of late, BT is to make a lump-sum payment of £2 billion (US$3.1 billion) into its pension scheme as part of its plan to wipe out its £4.1 billion ($6.5 billion) pension deficit. This payment will be followed by nine deficit payments of £325 million ($515 million) in March of each year from 2013 to 2021. (See BT Begins Pension Deficit Pay-Off and Euronews: BT Back on Track.)

  • As if it didn't have enough on its economic plate, the Portuguese government looks set to be fined €45,000 ($60,000) a day by the European Union's highest court for failing to follow EU rules on telecom services, reports Reuters. (See EC Wants Fine Slapped on Portugal.)

  • O2 has belatedly followed Vodafone UK in criticising Ofcom , the U.K. regulator, for agreeing in principle to EE 's plan for a possible head start on launching Long Term Evolution (LTE) services. In a statement, an O2 spokesperson said: "...we are concerned that Ofcom's other proposal to allow one operator to launch 4G early on its existing spectrum is contradictory to its objective of delivering a competitive market environment with four competing players." (See Britain's Bloomin' LTE and Europe Set for LTE Laggard Status.)

  • Could the days of the DVD be numbered? The Daily Telegraph reports that U.K.-based movie rental service LOVEFiLM International Ltd. is now streaming more product than it is delivering through the mail, which was how it started. That's an awful lot of people watching movies hunched over their laptops, and that ain't right...

    — Paul Rainford, Assistant Editor, Europe, Light Reading



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