Finnish telecom gear group Nokia has announced plans to cut up to 14,000 jobs in an effort to reduce costs. The move comes as weaker demand for next-generation 5G equipment has led to a 20% drop in third-quarter sales. Nokia does not anticipate a market recovery in the near future. The company's decision to downsize is a response to reduced investment in 5G mobile infrastructure by US and European operators. This news follows Google's recent job cuts in its news division.
Finnish telecom gear group Nokia will cut up to 14,000 jobs to reduce costs, the company said, after weaker demand for next-generation 5G equipment lowered third-quarter sales by a fifth, adding it did not expect a market recovery soon https://t.co/YJCEoUkmSe
Nokia $NOK said today it would cut up to 14,000 jobs as part of a cost reduction plan following a 69% plunge in third-quarter earnings - CNBC
Nokia, the Finnish telecoms giant, has announced it will cut up to 14,000 jobs by the end of 2026 in order to reduce organisational costs. Full story 👇 https://t.co/gATi0W43kB #Tech | #News | #JobCuts
Nokia to cut up to 14,000 jobs after profit plunges https://t.co/dfDKN8OkMu
Nokia to cut up to 14,000 jobs after sales drop 20% https://t.co/9OVD0Grry3 https://t.co/emhmpZfIv5
Nokia to cut up to 14,000 jobs to lower costs in weak market https://t.co/VWzVzNWyTB
BREAKING: Nokia will cut up to 14,000 jobs as reduced investment in 5G mobile infrastructure from US and European operators weighs on the company https://t.co/uFQADMpegU https://t.co/l9rCg9bSwY
BREAKING: Nokia will cut up to 14,000 jobs as reduced investment in 5G mobile infrastructure from US and European operators weighs on the company https://t.co/UZN9vqSeeB https://t.co/dOdijEBVOX
Google cuts dozens of jobs in news division https://t.co/Nl8LJDuIWi