Nokia to shed 700 jobs, half in Finnish home

Nokia, the world's leading maker of mobile phones, has said it would shed some 700 jobs, with Finland taking the brunt of the cuts. Nokia said it was taking "proactive steps" to improve efficiency in research and development and related sales and marketing activities and internal information technology operations.

In 2006 Nokia employed some 65,000 people globally. In January the company reported a 19% jump in net profits for 2006 to 4.3 billion euros (5.6 billion dollars), and a rise in sales of 20% on the year to 41.1 billion. Nokia's main rival, US-based Motorola, recently announced it was cutting 3,500 jobs in a bid to boost profitability.

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