Nokia Lays Off 1,800

Apr 10 2003 - 04:29 PM ET | Nokia
Handsets are getting smaller and so is Nokia's workforce--by 1,800. The world's largest cellular phone company had earlier announced that this quarter would bring a huge loss so the move comes at little surprise to investors.
"Like most of the telecommunications industry, Nokia has been suffering from the spending slowdown by cell phone service providers trying to weather the ongoing economic slump." - C|