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Nokia cuts 10,000 jobs, streamlines to save costs

By Matti Huuhtanen
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Nokia cuts 10,000 jobs, streamlines to save costs

HELSINKI (AP) — Nokia says it will slash 10,000 jobs and close plants as the ailing company fights fierce competition, and gave a grim outlook for most of the year, causing its shares to plummet 18 percent to close at €1.83 ($2.30).

The Finnish cellphone maker also on Thursday announced personnel changes and said it has agreed to sell its luxury phone brand, Vertu.

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