Finnish manufacturer of telecommunication equipment Nokia will fire thousands of people within the reorganization plan. This was said in a statement. Nokia hope that in this way by 2023 it will be possible to save about 600 million euros.
As a result of restructuring, which will take from 18 to 24 months, the number of jobs in the company will decrease from the current 90 thousand to 80-85 thousand. In this case, the exact number of abbreviations will depend on the market situation within two years.
“solutions that may have a potential impact on our employees are never accepted frivolidly. For me, it is important that our employees have received their support for them in this process,” commented Nokia President Pecken Lundmark.
As the Guardian notes, this step is part of the strategy and the new operating model, which the company announced in 2020. Nokia is confident that so the company can better cope with growing competition especially by the Swedish Ericsson and Chinese Huawei. In the near future, the company intends to focus in several directions: the development of wireless mobile networks and 5G, cloud services and network infrastructure.
At the same time, about 300 jobs will be created, in the main at Nokia headquarters.