Cell phone giant Nokia announced yesterday that they would be cutting 3% of its workforce -- some 1,700 jobs -- as part of an effort to reduce their operating expenses. Operations in the company's homeland of Finland will be the source of 700 of the lost jobs, with the balance coming from Nokia's divisions elsewhere in Europe, as well as in Asia and North America. The company has been instituting a variety of cost-cutting measures since January.
See "Nokia Plans to Slash 1,700 Jobs Amid Sluggish Sales of Cellphones", Kevin J. O'Brien, The New York Times, March 17, 2009