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Nokia to shed another 1,700 jobs

Nokia cuts - Part of €700m savings plan
Nokia cuts - Part of €700m savings plan

Nokia, the world's leading mobile phone maker, planned to cut another 1,700 jobs worldwide as part of cost-cutting measures.

Nokia's head of communications, Arja Suominen, told the AFP news agency the new job cuts were part of plans announced last December to slash costs by around €700m or more over the next couple of years.

Nokia also said last month it planned to cut 1,000 jobs globally through voluntary redundancies.

The new lay-offs announced today will affect people working at the company's device and markets units, as well as at its corporate development and global support divisions.

In January, Nokia reported a 69% slump in its fourth-quarter profits due to falling handset prices and sales.