BUSINESS

Nokia to move central Europe HQ to Hungary from Austria

Finland’s Nokia Corp. will relocate its Central European headquarters to Budapest from Vienna, Austrian daily Die Presse reported, citing a spokeswoman for Nokia Austria, Mo­ney.ro informs. The Austrian head­quarters employs 60 people, some of whom will be employed in Budapest – “Those who the firm can persuade to move,” the spokeswo­man, Alma Mautner, told the daily. The relocation comes as the company seeks to streamline its operations and return to profit after a string of losses amid falling market share in the mobile-phone market. Nokia has been cutting headcount globally since 2011, with the aim of eliminating 17,000 jobs. It has laid off 2,300 of 4,400 staff at its Hungarian plant.

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