Nokia CEO Pekka Lundmark
Nokia is slashing up to 14,000 jobs as part of a corporate restructuring that the Finland-based telecommunications equipment vendor said is necessary to counter near-term headwinds impacting its operations. The move also comes at the tail-end of what was a previous three-year turnaround program.
Nokia is positioning the job cuts as a resetting of its cost base to protect profitability. That reset will reduce its headcount from around 86,000 employees today to between 72,000 and 77,000 employees.
The cuts are targeted at saving up to $1.3 billion in operational costs by 2026, which Nokia stated would be a 10% to 15% drop in personnel expenses. The job cuts are set to impact Nokias Mobile Networks, Cloud and Net…
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