Nokia Plans to Cut 1,700

Nokia, the world’s largest manufacturer of mobile phones, will eliminate 1,700 jobs, or 3% of its work force.

The Finnish firm will lay off 700 workers in Finland, with the rest in Europe, Asia and North America. Up to 1,000 employees will get severance packages.

Nokia is also freezing salaries and hiring, and cutting nonessential travel.

Labor laws in Finland and Germany might delay some job cuts from taking effect for six months.