Wednesday, April 29, 2009

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Nokia to cut 400 more jobs

Nokia Oyj, the world's biggest mobile phone maker, said on Tuesday it would reduce investment in creating new services, helping it to cut further 450 jobs. Nokia, which made its first ever quarterly pretax loss in January-March, is cutting annual costs at its key handset unit alone by more than 700 million euros ($911 million) to counter plunging demand.

Nokia said the 450 job cuts would also involve internal IT unit and industry collaboration activities. It has so far slashed 3,000 jobs across the organisation. The overall mobile phone market is expected to shrink 10 per cent this year, as consumers rein in spending and handset sellers try to clear out unsold phones.


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