Nokia Confirms "Substantial Reductions In Employment Around The World"

Nokia has confirmed that there will be job losses as a result of the new partnership with Microsoft. Although no specific numbers are expected to be revealed until later today, during the financial element of Nokia's presentation, CEO Stephen Elop did say that "there will be substantial reductions in employment around the world, and that will affect Finland."

However, while Nokia has been tipped to relocate much of its operations to Silicon Valley, Elop was quick to insist that the company would remain Finnish. "Finland is our home, and it will remain our home" he reiterated.