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Wednesday, April 13, 2011

Intel (INTC) Hiring, Nokia (NOK) Firing, in Finland

With Nokia (NYSE:NOK) close to announcing it may cut up to 6,000 jobs in its research and development, companies are scrambling to grab some of the talent before they get away, including Intel (NASDAQ:INTC), which has already started hiring some hardware and software engineers based in Finland in order to launch its own R&D unit there.

Google (NASDAQ:GOOG) has also said it's interested in hiring some of the Finnish workers, suggesting a probable battle which should benefit the engineers, even in the midst of dislocation.

Nokia has a huge research budget of $4.3 billion. To appreciate that you have to compare it with a company like Apple (NASDAQ:AAPL), whose R&D budget is $1.78 billion.

Earnings for the mobile device giant will be released on April 21.

Intel didn't say when it plans on opening its Finnish research center.

Nokia was trading at $8.71, falling $0.03, or 0.29 percent, as of 2:49 PM EDT. Intel was trading at $19.80, gaining $0.04, or 0.20 percent.

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