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Nokia to slash 1,700 jobs

business Updated: Mar 17, 2009 16:33 IST
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The world’s largest mobile phone maker Nokia will be trimming its workforce by 1,700 employees worldwide, as part of the company’s cost cutting efforts.

The firm in a statement today said actions would be taken at its devices and markets units as well as in the corporate development office and global support functions.

“... these plans will affect approximately 1,700 employees globally. Where applicable, Nokia will start consultations with employee representatives about these plans,” Nokia said.

The cell phone maker noted that it intends to scale sales, marketing and technology management to match the pruned portfolio and global consumer demand.

According to the company, these measures are part of its previously announced plans to adjust business operations and cost base in accordance with market demand and safeguard future competitiveness.

“Nokia continues to seek savings in operational expenses, looking at all areas and activities across the company,” it added.

Earlier this month, the firm announced a voluntary departure package aimed at bringing down its headcount by as many as 1,000 employees. It noted the package would lessen the need for “involuntary redundancies” and also help in cutting costs.