Finnish network specialist Nokia will cut 5,000 to 10,000 jobs in the coming months. The telecom company announced this on Tuesday.
Nokia wants to save costs in this way.
The jobs must disappear in a period of one and a half to two years. As a result, the number of jobs at the group will decrease from 90,000 today to 80,000 to 85,000.
The precise number of job cuts will depend on market developments in the coming years.
The producer of telecom equipment wants to cut costs to survive in a very competitive market.
At the same time, the group wants to invest more in the research and development of 5G, cloud and digital infrastructure.