Nokia plans to cut 180 jobs in Finland's home market as part of an ongoing restructuring aimed at cutting 500 million euros in operating costs and increasing investment in 5g and digital.
Nokia said in a statement that layoffs will begin on January 21. The company has about 6000 employees in Finland.
The company said the layoff would not affect its 5g product development at its main plant in olu. However, the layoffs will apply to all regions of Nokia in Finland and are expected to have the greatest impact on its headquarters in Espoo.
"The cost reduction plan we launched in 2018 is on schedule. We will continue to improve our operational capabilities and ensure our long-term competitiveness. These decisions are not easy, and we will try our best to support our employees in the process of transformation. " Said Tommi Uitto, President of Nokia mobile networks.
According to Tommi Uitto, Nokia hired 370 employees in Finland in 2019 as part of its 5g plan, "and the company plans to continue to invest in certain priority areas in Finland.".
Nokia announced its cost saving plan in 2018, aiming to achieve its goal by 2020. In the third quarter of 2019, the company cut its initial (cost saving) target from 700 million euros to 500 million euros.
