Nokia Shutting Research Site, Trimming Jobs

Nokia (NOK) this morning said that as part of its plan to cut costs, it will close its mobile R&D site in Jyvaskyla, Finland . The company also plans to scale down production at its site in Salo, Finland with “staggered temporary lay-offs.” The planned shutdown in Jyvaskyla will affect all of its 320 employees. In Salo, the company will temporarily layoff 20%-30% of its 2,500 employees at a time. The company also said plans to it cut about 60 employees in global support functions and 30 in the new businesses group in its services unit. (Add that up and you get 910 to 1,250 job cuts.) Nokia this morning is up 10 cents, or 0.8%, to $12.64. (link)