Nokia to Lay Off 14,000 Employees

Nokia to Lay Off 14,000 Employees

Nokia to Lay Off , 14,000 Employees.br The Finnish telecom company made the announcement on Oct. 19, CNN reports. .br The job cuts are meant to reduce costs br amid a "weaker" market environment.br Nokia projects that the layoffs will save the br company at least $421 million next year.br By the end of 2026, Nokia expects br to save nearly $1.3 billion.br The most difficult business br decisions to make are the br ones that impact our people, Nokia CEO Pekka Lundmark, via statement.br We have immensely talented employees at Nokia and we will support everyone that is affected by this process, Nokia CEO Pekka Lundmark, via statement.br The news of the job cuts was accompanied by br a report of worse-than-expected Q3 2023 results.br Compared to a year ago, sales fell 15, CNN reports.br Year-over-year mobile network br sales also dropped 19.br According to Nokia, “macroeconomic br uncertainty and higher interest rates br continue to pressure operator spending.


User: Wibbitz Top Stories

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Uploaded: 2023-10-19

Duration: 01:31

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