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Nokia to axe another 1,700

Nokia phone production
Nokia phone production

By: Angeline Yeo, Singapore
Published: Mar 20, 2009

Singapore - The troubled handset manufacturer said the latest job cuts will come from its device and market units amongst others. 

Nokia last month announced it will reduce its workforce by 1,000 by voluntary departures.

The fresh job cuts are part of the company's previously announced plans to slash costs by around 700 million euros (US$909 million) or more over the next few years. The cuts will be made from the company's device and market units, as well as its corporate development and global support divisions. When asked in an email interview, the company said the reductions will be made globally, and declined to provide the numbers of those that will be cut from its Asia or Singapore operations.

"As announced, these personnel reductions are part of the company's plans to increase cost-efficiency and adapt our operations to business environment," a Nokia spokesperson told ProcurementAsia magazine.

Nokia in January reported a 69% drop in its fourth-quarter earnings, hit by falling handset prices and sales.

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