2/8/2010-Shares of Nokia (NYSE:NOK) are trading 0.8% lower to $13.82 Monday after the company announced it will cut about 285 jobs at its handset factory in Salo, Western Finland after it has realigned the facility towards smartphone production for the European market.

Nokia plans to find new positions at the company for as many of the affected employees as possible.

Additionally, Nokia plans to cease ongoing rotational temporary lay-offs at the Salo plant by the end of June 2010.

Juha Putkiranta, Senior Vice President, Markets, commented, "Salo is a crucial part of Nokia's global manufacturing network. Plans involving changes to employees are always painful, and they are set in motion only after thorough consideration. However, with these plans our aim is to ensure the plant's future competitiveness and its special role as one best suited to the production of high value mobile devices."

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