Nokia to cut 1,700 jobs

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The Independent Online

Nokia will slash 1,700 jobs globally over the coming few months because of falling demand, the world's top mobile phone maker said today.

Nokia said in January it aimed to cut annual costs at its key handset unit alone by more than €700m (£649m) to counter the plunging demand.

Nokia said today that, in addition to its handset unit, it would also cut jobs in its marketing unit, corporate development office and global support functions.

Up to 700 jobs would be cut in Finland.

The overall mobile phone market is expected to contract by about 10 per cent this year, hurt as consumers rein in spending and handset sellers try to clear out unsold phones.

Nokia said it was continuing to seek savings in operational expenses, looking at all areas and activities.

Last month Nokia said it was offering severance packages to the first 1,000 employees who volunteered to leave, and cut production at its key Salo plant in Finland.