Nokia says to cut up to 10,000 jobs in 24 months

Agence France-Presse

Posted at Mar 16 2021 05:08 PM

Nokia says to cut up to 10,000 jobs in 24 months 1
The Nokia logo is seen on a smartphone in front of a displayed stock graph in this illustration taken February 5, 2021. Dado Ruvic, Reuters/File Photo


HELSINKI - Finnish telecoms equipment maker Nokia said Tuesday it would slash up to 10,000 jobs over the next two years as part of a 600-million-euro ($715-million) cost-cutting program.

"Planned restructuring is expected to result in an 80,000–85,000 employee organization, over an 18–24-month period, instead of the approximately 90,000 employees Nokia has today," the company said in a statement announcing a wide-ranging restructuring introduced by new chief executive Pekka Lundmark.