Nokia last year introduced a plan to cut up to 14,000 jobs to cut costs and save up to 800 billion euros ($868 million) and 1.2 billion euros by 2026.
Finland-based tech company Nokia has decided to lay off around 2,000 employees (or 20 per cent of its workforce) in Greater China and 350 employees in Europe, Reuters has reported citing sources. The Nokia layoffs are part of the company’s cost-reduction strategy.
Nokia had about 10,400 employees in Greater China and 37,400 in Europe as of December 2023.
Last year, the company introduced a plan to cut up to 14,000 jobs to cut costs and save up to 800 billion euros ($868 million) and 1.2 billion euros by 2026.
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