Nokia will slash 1700 jobs globally over the coming few months because of falling demand. The mobile phone maker had announced in January that it aimed to cut annual costs at its key handset unit alone costs at its key handset unit alone by more than 700 million Euros (909.3 million dollars) to counter the plunging demand.

Nokia has announced that, in addition to its handset unit, it would also cut jobs in its marketing unit, corporate development office and global support functions. Up to 700 jobs would be cut in Finland. The over all mobile phone market is expected to contract by about rein in spending and handset sellers try to clear our unsold phones