Nokia cuts more workers

Falling demand for mobile phones is forcing Nokia to lay off a further 1,700 people worldwide over the next few months.

The largest single staff reduction is in Finland where 700 jobs will go. The world’s largest mobile phone maker said in addition to cuts announced earlier at its handset making plants it will also reduce the workforce in its marketing, sales and technology management divisions. It is currently consulting with unions and employee representatives about exactly where the axe will fall. The company is trying to cut costs by 700 million euros. Earlier this year Nokia warned the recession will cause the overall market for mobile phones to contract by about 10 percent this year. In the final three months of last year Nokia’s profits fell 69 percent.More about: Finland

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