By Marcus Leach
Both Unilever and Nokia have announced plans to axe a combined total of over 10,800 jobs.
Struggling phone company Nokia are set to cut another 10,000 jobs globally and warned that losses for the second quarter are going to be larger than first expected.
The cuts bring total planned job cuts at the Finnish group since Stephen Elop took over as chief executive in September 2010 to more than 40,000.
"These planned reductions are a difficult consequence of the intended actions we believe we must take to ensure Nokia's long-term competitive strength," Mr Elop said in a statement.
Meanwhile consumer goods giant Unilever have revealed they plan to shut their sites in Flintshire, Swansea and Bridgend, putting 450 jobs at risk. Further to that the firm also plans to shut a plant in Slough, Berkshire, bringing the total number of losses to 800.
"Like many companies today, Unilever faces the challenge of creating growth opportunities against a backdrop of very tough economic conditions in Europe," Amanda Sourry, chair of Unilever UK and Ireland, said.
"While Unilever is growing well in the UK and globally, it will always be necessary to make changes which raise our game and ensure our continued success.
"We believe these proposals would substantially strengthen our platform for long-term growth and competitiveness.
"The proposals announced today will be reviewed thoroughly and the outcome shared with our employees as early as possible."