Nokia to cut 1,700 jobs

Phone sales have been hit hard

Mobile phone giant Nokia has confirmed it plans to shed 1,700 jobs globally as part of a cost-cutting strategy announced in January.

The company said then that it would cut costs by €700m (£647m).

The job cuts will be across a number of departments, including Devices and Markets, as well as in its Corporate Development Office and global support functions.

"Altogether these plans will affect approximately 1,700 employees globally. Where applicable, Nokia will start consultations with employee representatives about these plans," the firm said.

The jobs will be cut from operations in Finland, the US and the UK. Nokia employs about 125,000 people globally.

Phone sales have been hit hard by the global economic downturn.

For the final three months of 2008, Nokia's profits fell 60 per cent to €576m (£542m) compared to the year ago quarter.