Job cuts galore...

Nokia plans to reorganize its sales and marketing activities and its research center. The company said that 450 jobs will be affected in the markets unit and 130 in the research center. In addition, Nokia plans to close its Turku site in Finland, where 220 employees work, and relocate those activities predominantly to Salo.

Tata Motors-owned Jaguar Land Rover (JLR) reportedly plans to cut 400 more jobs to overcome the global economic gloom. The plans have been announced to the company’s 16,000-strong workforce that is currently facing short-time working and prolonged plant shutdowns. The 400 redundancies are on top of the 198 job losses JLR recently announced as part of its annual efficiency drive.

Another Tata owned company, Europe's second-largest steelmaker Corus said it planned to cut 400 jobs in its distribution business because of the economic downturn. The company, owned by Tata Steel, said it would start an immediate consultation with workers and would try to achieve the job losses through voluntary redundancy. The distribution side of the business employs 2,400 at 36 sites in the UK and Ireland. The proposed reductions will be spread throughout the business, Corus said.

Fidelity Investments will cut nearly 1,300 jobs, or 2.9% of its staff, this month and plans more layoffs in the first three months of next year, the world's biggest mutual fund company said. Fidelity's biggest job cuts in six years follow a slump in assets as investors pull record amounts of money from mutual funds during the financial crisis. Details of the second round of job cuts will be finalized in coming weeks, Fidelity said.

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