HELSINKI – Nokia
said it would cut up to 1,700 jobs, or about 1.3% of the company’s work force, in response to sluggish demand and the poor outlook for near-term recovery.
The company said the cuts will come in its device and media segments, plus corporate development and global support.
Cellphone sales were down 5% to 315 million cellphones in the fourth quarter, Gartner
reported, and grew 2% sequentially despite the holiday buying season.