Nokia cuts 550 jobs

13 Feb 2003

The world’s number one mobile handset manufacturer, Nokia, has said it will cut around 550 jobs in its networks businesses in the US, the UK, Sweden and Finland during the first half of 2003, as the downturn in orders really begins to bite. Unlike its rivals, Nokia has so far managed to avoid any serious cuts to its workforce, thanks to profitability from its handsets division.