Finnish giant Nokia will be slashing 1,700 more jobs globally to lessen its cost in the current tough crisis.

The company plans to cut over €700 million (US$900 million) in costs by the coming fiscal.

The job cuts are believed to affect people working at the company’s device and markets units in addition to its corporate development and global support sections.

Eija-Riita Huovinen, communications manager at Nokia, said that the largest number of job cuts will be made in Finland.

Without going into detail, she also said that the U.S. and U.K. will also see job cuts to some extent.

Earlier, Nokia announced its plans to cut staff on Jan 22 when it reported its fourth-quarter results that showed 19 percent declined in its sales year on year.

The company, on Feb 11, detailed its first round of cuts, announcing it will be closing its R&D site in Jyväskylä, Finland. In the process, about 320 employees will be laid off. The company is also making temporary cuts at its production facility in Salo.

The economic slump has also hit he mobile phone segment badly.

The shipments during the fourth quarter dropped by 11.6% year over year, marking the record the holiday quarter has not recorded double digit growth in last 7 years.

It expects mobile phone sales to drop by around 8 percent during the existing year.