Nokia Plans to Cut Number of Employees in Finland

Nokia Plans to Cut Number of Employees in Finland
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Nokia plans to cut 180 jobs in Finland as a part of restructuring efforts designed to slash €500 million from operating costs and up investment in 5G and digitalisation. The vendor said in a statement that staff reduction negotiations will begin next week. The company employs around 6,000 staff in Finland.

The company said that the cuts will not affect development of 5G products at its main factory in Oulu. However, it applies to all Nokia locations in Finland, with the biggest impact expected at the vendor’s headquarters in Espoo.

“The savings program we launched in 2018 has progressed as planned. We will continue to improve our operational capability and ensure the long-term competitiveness of the company. These decisions are not easy and we will do our best to support our staff during the change process,“ said Nokia president of Mobile Networks Tommi Uitto.

Nokia hired 370 employees in Finland in 2019 as part of its push in 5G, and “plans to continue investing in certain priority areas in Finland“, Uitto continued. The vendor announced its cost saving programme in 2018 and aimed to hit its target by end-2020. In its Q3 2019 earnings statement, the company lowered its original target from €700 million to €500 million.