You're reading: Nokia to cut 4,000 jobs in Europe

HELSINKI (AP) — Nokia Corp. says it will slash 4,000 jobs in Finland, Mexico and Hungary in a further move to cut costs as it struggles against stiff competition in the smartphone market.

The layoffs are part of more than 7,000 global layoffs the Finnish company announced last year.

Nokia said Wednesday that it is increasingly moving cellphone assembly from Europe to Asia where the majority of component suppliers are based.

The layoffs are expected to completed by the end of 2012.