Nokia plans to cut up to 14,000 jobs after sales and profits plunge in a weak market

Nokia plans to cut up to 14,000 jobs after sales and profits plunge in a weak market

2 years ago
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https://apnews.com/article/nokia-job-cuts-telecom-5g-f13fa6283193a4ed22b8c7f0585c4d19

HELSINKI (AP) — Telecom gear maker Nokia said Thursday that it is planning to cut up to 14,000 jobs worldwide, or 16% of its workforce, as part of a push to reduce costs following a plunge in third-quarter sales and profit.

The Finnish wireless and fixed-network equipment provider said the planned measures are aimed at reducing its cost base and increasing operational efficiency “to navigate the current market uncertainty."

Nokia plans to cut up to 14,000 jobs after sales and profits plunge in a weak market

Oct 19, 2023, 9:35am UTC
https://apnews.com/article/nokia-job-cuts-telecom-5g-f13fa6283193a4ed22b8c7f0585c4d19 > HELSINKI (AP) — Telecom gear maker Nokia said Thursday that it is planning to cut up to 14,000 jobs worldwide, or 16% of its workforce, as part of a push to reduce costs following a plunge in third-quarter sales and profit. > The Finnish wireless and fixed-network equipment provider said the planned measures are aimed at reducing its cost base and increasing operational efficiency “to navigate the current market uncertainty."