Nokia is certainly feeling the effects of the economy with less people buying the firms handsets. The company announced recently that it would be cutting back on its R&D activities. This cut back will most likely mean that Nokia will be offering less new handsets than it has in the past as well.

Nokia is cutting back on R&D in Japan and says that the cutback will affect 220 workers in Japan for a bit over 1% of its global workforce. The cutback won't affect Nokia Siemens networks or the Vertu brand. Nokia also announced cutbacks in Finland and Denmark as well.

Nokia is cutting back on 230 workers in its Oulu site in Finland and 100 at the companies Copenhagen, Denmark site for a total of about 2% of its global employees. Nokia hopes to find the workers new positions within the company.