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Tekes considers cutting funding to Nokia projects

Finland's technology agency Tekes may cut funding to its projects affected by telecom giant Nokia's recent spate of redundancies, it announced on 2 July.

Tekes has awarded Nokia and Nokia Siemens Networks (NSN) annual research and development funding worth €15 million. The Finnish innovation agency says it will withdraw its funding if the changes in the mobile phone company threaten completion of the projects.

Tekes already halted a research project in 2011 as a result of Nokia’s first round of redundancies.

This year Nokia has reduced the number of its staff in Finland by 5,700 and closed its local manufacturing operations.