Nokia accelerates cost-cutting after market slowdown

(Telecompaper) Nokia reported a 9 percent fall in pro forma first-quarter sales to EUR 5.603 billion, hurt  by the slowdown in the mobile networks markets. Operating profit rose to EUR 345 million from EUR 276 million a year ago, on a pro forma basis for the merger with Alcatel-Lucent. The net result was a loss of EUR 613 million versus a profit of EUR 139 million a year earlier, due to merger-related charges. Nokia confirmed it has started the earlier announced job cuts and was pushing ahe