Unhappy Holidays, Nokia to Axe up to 800 Jobs

Yahoo isn't the only one handing out pink slips in place of holiday bonus checks. According to a Bloomberg report, Nokia plans to cut as many as 800 jobs in Finland after completing talks with unions.

Those getting axed will have the option of voluntarily resigning in exchange for a severance package equivalent to 5 to 15 months worth of salary, depending on long they've been with the company. They'll also be allowed to apply for other positions in the company.

"In past years we've been successful in redeploying people so we believe the actual number will be considerably smaller in this case as well," said Paeivyt Tallqvist, a spokeswoman for Nokia. "The final number will only be known after the process is over so this goes way into next spring."

More than half -- about 560 -- will affect the company's Symbian smartphone division as Nokia tries to streamline development of the still popular OS.