Nokia slashes 1,700 jobs globally

Espoo, Mar 17: Nokia, world's biggest mobile phone makers is planning to cut about 1,700 jobs globally to adapt to the falling market demand. Based in Espoo of Finland, the company will consult with the unions regarding the layoffs. Finland alone will see a job cut of 700.

"Nokia continues to seek savings in operational expenses, looking at all areas and activities across the company," said the company in a release. Earlier in Jan, Nokia had announced its plans to slash dividend for the first time in 7 years and forecast a 10 pc slide in industry sales as the global slump reduced consumer demand.

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