Nokia N95

It seems to be the tagline for most news you hear these days, 'jobs cut because of economy'. Nokia isn't immune to the phrase, as they're slicing their workforce by 1,700 workers. Nokia is making its move due to lower sells, and price tags.

The job losses will affect many of the companies' sectors. From many of its global divisions, all the way to its corporate offices. Nokia warned of making cuts back in January when it was reported that their fourth-quarter net profit crashed 69 percent.

One of Nokia's major research centers will be closing. They've stated they will provide many employees a resignation program, in hopes of putting off having to give people the ax.

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