the Finnish telecommunications giant known for its 5G equipment,
Nokia announced its intention to reduce its workforce by up to 14,000 employees
This job reduction is part of a broader restructuring initiative aimed at lowering the company’s headcount
The primary goal is to achieve a 10% to 15% reduction in staffing expenses and generate cost savings of at least €400 million
Overall, Nokia anticipates that these measures will lead to cumulative cost savings of up to €1.2 billion
Nokia’s decision to initiate this significant restructuring came as the company reported worse-than-expected
Sales during this period witnessed a 15% decline compared to the same period the previous year.
Read more Click here