Nokia brings job cuts home - Mobile World Live

Nokia brings job cuts home

29 MAR 2018

Nokia will lay off 353 employees in its domestic market of Finland this year as part of a cost-saving strategy and because of a weak global network market, Reuters reported.

The figure is lower than the original plan to reduce around 425 jobs. The vendor plans to cut 283 roles from the Networks business and 70 from its Technologies unit.

Nokia wants to save €1.2 billion annually following its 2016 acquisition of Alcatel-Lucent.

It currently employs 6,300 people in Finland and around 102,800 around the world.

Nokia slipped to a net loss during Q4 2017, as one-off patent payments during the period barely masked an ongoing struggle in its Networks business.

In a statement, CEO Rajeev Suri warned the situation with its Networks business was not likely to improve in the near future, despite signs of improvements in North America, as he pinned his hopes for the division on 5G.

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Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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