Nokia Oyj to slash 490 more jobs

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Nokia
Helsinki, May 19: Nokia Oyj, world's leading cell phone maker on Tuesday, May 19 said it is planning to cut 490 more jobs as part of its global cost cutting programme.

Nokia, based in Finland announced that it would cut 170 jobs in logistics, production management and production support and would offer a voluntary resignation package for about 320 employees working at its Salo plant. The cell maker first registered its first ever quarterly pretax loss in Jan-Mar.

Nokia is cutting annual costs at its key handset unit alone by more than 700 million Euros ($948.7 million) to counter plunging demand. With this new job cut, the company has laid off over 4,000 jobs globally in 2009.

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