Nokia is overhauling its business and slashing up to 14,000 jobs in an effort to counter challenging market conditions and the slowdown in deployment of 5g,. Nokia expects to have 80,000 to 85,000 employees after it implements the scheme over the next 18 to 24 months, down from about 90,000 today.
The finnish company said thursday it would shrink its workforce to between 72,000 and 77,000 by 2026, from 86,000, depending on how market demand evolves. In 2021, nokia announced plans to reform its cost structure and reorganize its operations in finland.
Finnish Telecoms Giant Nokia Is To Axe Between 5,000 And 10,000 Jobs Worldwide In The Next Two Years As It Cuts Costs.
In an official statement released on thursday, nokia declared its intention to eliminate as many as 14,000 jobs in an effort to streamline operations.
Telecom Gear Maker Nokia Says It's 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.
It is unclear where the bulk of the cuts will fall, but it said about 96.
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Nokia Announced A Major Overhaul Of Its Business On Thursday That Includes Slashing Up To 14,000 Jobs, Or About 16 Percent Of Its Work Force, Over The Next Three Years.
This will result in slashing of up to 14,000 jobs.
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