Nokia To Cut 330 Jobs

HELSINKI (AP) -- Nokia Corp., the world's largest mobile phone maker, said Friday it is axing 330 jobs at research and development units in Finland and Denmark as it continues to struggle to cut costs.

The move is part of the company's policy to streamline its global R&D operations that employ 17,000 people worldwide.

The cuts will affect some 230 workers of the 2,000 employed in Oulu, northwestern Finland, and about 100 personnel in the Danish capital, Copenhagen, where it employs 1,000 people.

Nokia said it will continue "to maintain a strong R&D presence" at both sites.

The announcement comes a month after the company reported its first quarterly loss since it became the world's biggest mobile phone maker in 1998. It reported a third quarter net loss of euro559 million ($832 million) and a 20 percent drop in sales.

Nokia employs 123,350 people worldwide. Last year, it sold 468 million handsets, up 7 percent on 2007.