Nokia to cut 300 jobs at Navteq Traffic.com in Malvern

UPDATE: "There are about 300 people affected in Malvern. Our plan is to re-locate our product development activities to Chicago and Boston. There will be an opportunity for people to re-locate," says Nokia's press office, in response to my query.

EARLIER: Nokia, the Finnish cellphone maker that owns a string of info tech businesses around the world, says it plans to close its offices in Malvern (previously Chesterbrook), idling software engineers and other workers in its Navteq division, which includes Penn grad Chris Rothey's group that built and runs Traffic.com.

Nokia job cuts total 3,500 worldwide, including 1,300 in the "location and commerce" division that includes Traffic.com. The group faces increased free Internet and smartphone-apps competition. The cuts will take place over the next year. Announcement here.