News

Nokia To Cut Up To 10,000 Jobs Worldwide

Ghananewsprime gif
WhatsApp gif

Finnish telecoms giant Nokia is to axe between 5,000 and 10,000 jobs worldwide in the next two years as it cuts costs.

It is unclear where the bulk of the cuts will fall, but it said about 96 jobs in the UK were under threat as part of the €600m (£518m) cost cuts.

Nokia is playing catch-up on 5G, and also plans to invest in cloud computing and digital infrastructure research.

The company currently has 90,000 employees around the world, and has cut thousands of jobs since 2015.

“We currently expect the consultation process in the UK to cover an estimated 96 roles,” a Nokia spokesperson said.

RELATED   Scores of Passengers Injured In Near-Fatal Accident at Suhum – Amanase

“At this stage, however, these are only estimates. It is too early to comment in detail, as we have only just informed local works councils and expect the consultation processes to start shortly, where applicable.”

As of 2018, Nokia employed people in 100 countries.

In Finland, the company’s base, about 300 jobs are likely to go, mainly from its Helsinki headquarters, a union representative said.

Read Also: Facebook Lifts Ban On News Content Blockade In Australia

France, where the company slashed more than 1,000 jobs last year, will be spared in the latest round of cuts.

Chief executive Pekka Lundmark said: “Decisions that may have a potential impact on our employees are never taken lightly. My priority is to ensure that everyone [that will be hit] is supported through this process.”

RELATED   WATCH OUT: COVID-19 notification tracker has been embedded into your phone.

After taking the top job last year, Mr Lundmark has made changes after product missteps under the company’s previous management hurt Nokia’s 5G ambitions and dragged on its shares.

The restructuring is intended to boost Nokia’s performance against rivals such as Sweden’s Ericsson and China’s Huawei.

Nokia was once the biggest handset manufacturer in the world, but it failed to anticipate the popularity of internet-enabled touchscreen phones such as Apple’s iPhone and Samsung’s Galaxy and was spectacularly knocked from its perch by rivals.

RELATED   Patapaa Allegedly Poisoned, In Critical Condition 

After selling its handset business to Microsoft, which the software giant later wrote off, Nokia concentrated on telecoms equipment. It also later went into a licensing deal for Nokia-branded handsets.

Source: BBC

Ghananewsprime gifWhatsApp gif
Send your article and other stuff for publishing to [email protected] Via WHATSAPP

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
close