Finnish corporation Nokia, the world's largest manufacturer of mobile phones, announced the reduction of 1700 people worldwide in the program to reduce expenditures in times of crisis. This is stated in the official press release issued at the company's website.
Dismissals affect employees of departments of marketing, sales, and technology, said MarketWatch. Reductions in state should help the company reduce the negative impact of falling demand for mobile phones. At the end of 2007 the Corporation employed 122 thousand people.
Previously, it was reported that from March 1, 2009 Nokia will begin a program of voluntary resignation. It will end either May 31 or to the dismissal of a thousand own volition.
In late January 2009, Nokia reported a decrease in net profit in the fourth quarter of 2008 to 60 per cent - up to 576 million euros. The reason was the global financial crisis, demand for many products, including mobile phones.
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