The Finnish phone giant Nokia (NOK1V:FH) has announced on Tuesday that due to slowing demand it will cut 1,700 jobs around the globe over the coming months.
The jobs will be eliminated across the board, including its sales and marketing, research and development as well as in its corporate offices.
“Nokia plans to scale sales, marketing and technology management to match the pruned portfolio and global consumer demand,” the company said this morning.
Nokia employs about 125,000 people globally.
Nokia’s fourth-quarter revenue dropped 20%, and the rival of Samsung and Motorola forecasts industry-wide volumes to drop 10% in 2009.
Image by aresjoberg under Creative Commons.
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