Nokia pulls plug on 1,700 jobs

Nokia Oyj will slash 1,700 jobs globally over the coming few months because of falling demand, the world's top cellphone maker said yesterday.

Nokia said in January it aimed to cut annual costs at its key handset unit alone by more than 700 million euros to counter the plunging demand.

Nokia said yesterday that, in addition to its handset unit, it would also cut jobs in its marketing unit, corporate development office and global support functions. Up to 700 jobs would be cut in Finland.