The popular mobile phone manufacturer of the world, Nokia is reportedly cutting around seven hundred jobs as part of its plans to slashing down its global work-force within two years, by four thousand, as the South Wark site is facing shutdown.

It has revealed by the group that it would be axing the jobs by the end of next year with its being set to reduce costs by GBP 886 million by that time. This equates to Euro one billion.

Moreover, three thousand jobs will further be affected across the world by a move by the mobile phone giant to outsourcing its Symbian software operations to the service outsourcing firm Accenture.

However, it was disclosed by the group that it was too early a time for imparting information regarding the number of jobs in the United Kingdom that would be involved.

Nokia, arguably the biggest mobile phone manufacturer of the world employs approximately two thousand four hundred hands in the United Kingdom with its key size in Hampshire's Farnborough and London.