Nokia to cut 1,700 jobs
The world's top cellphone maker Nokia Oyj said on Tuesday it would slash 1,700 jobs globally across several units over the coming few months as part of its major cost cut drive, reported Reuters.
Nokia said in January it aimed to cut annual costs at its key handset unit alone by more than 700 million euros ($909.3 million) to counter plunging demand.
Nokia said in addition to its handset unit, it would also cut jobs in its marketing unit, corporate development office and global support functions.
"Nokia continues to seek savings in operational expenses, looking at all areas and activities across the company," the firm said.
Shares in Nokia were 2.9 percent lower at 8.73 euros by 0915 GMT.