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Nokia will move its remaining operations to another Finland-based campus where its networking business is based.
The new facility for the Galaxy S maker is apparently set to open in Espoo, Finland, on June 13, and will focus on "advanced technologies."
CNET's Roger Cheng visits Rovio's headquarters in Espoo, Finland, to talk about its evolution from a simple mobile gaming company.
Nokia will sell its headquarters in Espoo, Finland, before leasing it back, in a move to inject cash into its struggling business.
The Nokia N97 is a touchscreen with a slide-out Qwerty keyboard and 32GB of memory comin' straight outta Espoo, Finland -- and it's hitting our shops on 19 June
Wicom Communications has raised $12 million in a third round of funding. Investors included Accenture Technology Ventures, 3i and Stratos Ventures. Espoo, Finland-based Wicom has raised a total of $13 million. The company develops software applications designed to provide voice-over-Internet Protocol networks.
Telecom equipment maker Tellabs announced Wednesday plans to reduce its work force by 1,000, further trimming its staff amid tough times for the industry. The Lisle, Ill.-based company will lay off 950 people and offer early retirement to 50 employees. Tellabs will also close its manufacturing facility in Drogheda, Ireland, and move that work into its Shannon, Ireland, and Espoo, Finland, plants. The company will cancel plans to open an office building in Chelmsford, Mass. Tellabs previously announced in April that it had eliminated 450 temporary and contract jobs in April and would not fill 1,100 open positions. The cuts are part of the company's plans to reduce its operating expenses by 5 percent by the fourth quarter. Tellabs expects to save $120 million a year, but to take a $50 million restructuring charge of $50 million for the third quarter. For the second quarter ending in June, Tellabs slightly exceeded lowered expectations and reported earnings of 2 cents a share, excluding items, on revenue of $516 million. That compares with earnings of 39 cents a share on revenue of $801 million for the same quarter a year ago. The company's sales in optical equipment have increased in the first and second quarter from last year as sales of broadband access and voice telecom equipment have pulled back.