Nokia, the world's largest mobile phone manufacturer (and the world's largest MP3 and camera maker as well when you think about it) it set to shed 1,700 jobs as it seeks to streamline its operations.
A portion of the 1,700 is likely to come from the UK as well, highlighting how even the big names are battening down the hatches as the economic crisis takes hold.
The cuts will come from many of Nokia's divisions, including sales and marketing, corporate headquarters and even the much-loved R&D sites, where magic experiments are said to happen.
"Nokia plans to scale sales, marketing and technology management to match the pruned portfolio and global consumer demand," said Nokia, according to The Guardian.
Mostly in Finland
The newspaper also said that a bulk of the cuts would occur in Finland, with a smaller number coming from the UK and the US.
Nokia has also offered voluntary redundancy to 1,000 employees, and Nokia is saying that there have been several hundred applicants already.
Nokia's not alone in slashing jobs in recent months, with the likes of Microsoft, Yahoo! and eBay all shedding the staff in a bid to streamline global operations (or however they term in management speak).
But RIM is bucking the trend at the moment, announcing it's on the lookout for thousands of new staff members to help keep up with the demand for its BlackBerry range.
Via The Guardian