Global Dispatches: Nokia to lay off 600 employees

10.11.2008
Economy Forces Nokia to Cut 600 Jobs

ESPOO, Finland -- . last week said it planned to , blaming a weakening worldwide economy and a slew of new competitors.

The total includes about 100 workers in Finland and 130 who work on long-term research projects at the six Nokia Research Centers around the world.

The announcement came less than a month after Nokia reported that third-quarter earnings fell 28% and sales declined by 5%. The company also said it lost market share during the quarter.

The layoff will take effect on Jan. 1, the company said.

-- Nancy Gohring,