Friday, 24 March, 2023

Nokia to cut 10,000 jobs over the next 24 months to save cost

<p>Nokia, as part of its restructuring plan, will cut 10,000 jobs within the next two years to trim costs and invest more in research capabilities, &nbsp;The restructuring is part of CEO Pekka Lundmark strategy to transform the company to compete with rivals. He had earlier said that Nokia would &quot;do whatever it takes&quot; to take the lead in 5G. The company expects the restructuring to lower its cost base by about 600 mn euros by the end of 2023, half of which will be realised in 2021.</p>