Published in Network

Nokia culls 350 jobs in Finland

by on15 January 2019


More cost cutting

Former rubber boot maker Nokia is to slash 350 jobs in Finland as part of a cunning cost cutting plan.

Nokia said the move was part of ongoing plans to find savings worth 700 million euros ($800 million) by 2020.

Head of the company’s Finnish operations, Tommi Uitto, said in a statement said that the planned changes are indispensable to secure Nokia’s long-term competitiveness.

The redundancies had been expected since October when the Finnish telecoms equipment maker’s third-quarter results missed expectations.

As part of the latest rejig it will create a new “enterprise” unit, led by its chief strategy officer Kathrin Buvac.

Nokia has already been slashing costs as part of its acquisition and integration of Alcatel-Lucent. The latest plan will cost €900m to deliver and is necessary for the company to hit its long term profit targets, according to chief executive Rajeev Suri.

 

Last modified on 15 January 2019
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