Nokia to Cut Another 1,700 Jobs Worldwide

Part of plan to cut $909 million in costs

Nokia, the world's leading mobile phone maker, said on March 17 it planned to cut another 1,700 jobs worldwide as part of cost-cutting measures. The new lay-offs would affect people working at the company's device and markets units, as well as at its corporate development and global support divisions.

Nokia's head of communications, Arja Suominen, said the new job cuts were part of previously announced plans to slash costs by around 700 million euros (US$909 million) or more over the next couple of years.

"We have since announced several initiatives. This is a new initiative," she said.

When Nokia in January reported a 69% slump in its fourth-quarter earnings due to falling handset prices and sales, company chief Olli-Pekka Kallasvuo said job cuts would be necessary but declined to forecast how many employees would be made redundant.The company announced last month it planned to cut 1,000 jobs globally through voluntary departures.

Copyright Agence France-Presse, 2009

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