Nokia to cut 490 more jobs

Nokia announced it would cut more jobs as part of its worldwide money-saving program. The company said it would slash 170 jobs in in logistics, production management and production support, though it said the actions would not affect employees at Nokia's handset manufacturing facilities.

Additionally, Nokia said it would offer a voluntary separation package for up to 320 employees at its manufacturing plant in Salo, Finland. The package will be offered next month. The company said that an earlier vountary separation deal it offered 1,000 global employees in February proved popular.

Since the beginning of the year, Nokia has pared 4,000 total jobs. The company wants to reduce costs in its handset unit by $920 million annually. Nokia's first quarter profit dropped by 90 percent and sales fell 27 percent when compared with the same quarter a year ago.

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