Nokia Laying Off 1,700 Employees

I guess nobody was biting at those voluntary resignations for severance packages, eh? In an effort to save upwards of €700 million in their handset division, Nokia (NYSE: NOK) has pledged to lay off 1,700 workers. The voluntary resignation offer still stands, but there’s still a research facility to close, 320 more jobs to cut and 2,500 more Finns to temporarily fire. Everyone’s taking a hit recession-wise, and although they’re cutting staff, Nokia’s recent €500 million R&D loan should help them stay in the game regardless. It’s hard to say if that will be enough to combat the encroachment of iPhone and BlackBerry on Nokia’s king-of-the-hill status, however…

[via AP]