Nokia to shed additional 490 jobs

As Finnish cell phone giant Nokia continues to cut costs in an effort to combat declining demand, the company recently told Reuters it would shed an additional 490 jobs in the near future. 170 employees from Nokia’s logistics, production management and production support divisions will be released and the company will extend its Voluntary Resignation Package to 320 workers at its Salo facility. Nokia had already implemented a temporary layoff schedule at its plant in Salo, but apparently the measure wasn’t as effective as it had hoped. So far this year, Nokia has cut approximately 4,000 jobs as it pushes to reduce annual expenses by nearly $1 billion.

Thanks, Tyrone

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