Helsinki (Finland), March 16
Wireless network maker Nokia says it is planning to cut up to 10,000 jobs, or over 10% of its staff, to reduce costs as it invests in research and development and tries to cement its role as a key supplier of 5G technology.
The restructuring means the number of staff is expected to fall to 80,000-85,000 employees over a period of up to two years, Nokia said on Tuesday. It should reduce costs by 600 million ($715 million) by 2023. — AP