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Phone firm Nokia to cut 700 staff

Finnish phone firm Nokia is to cut 700 jobs globally in a bid to make itself „more competitive”.

The firm's enterprise business arm, including research and development, will face the majority of cuts with 340 losses taking place in Finland. The firm said it needed to reorganize to remain competitive and that where possible people would be relocated. Earlier in 2007, Nokia and Siemens stated plans for a joint venture in early 2007, and warned of job cuts. At the time of announcing the alliance, which is tipped to generate $20bn in sales, they said up to 15% of 60,000 workers could lose their jobs over four years. „If you don't keep on developing the organization the whole time then you won't survive as a successful company,” said Nokia spokesperson Arja Suominen. The departments to be affected by the 700 job cuts include research and development, related sales and marketing in addition to internal IT operations. (BBC NEWS)