Nokia is reportedly planning to cut up to 14,000 jobs due to reduced investment in 5G infrastructure by US and European operators. The company has confirmed the job cuts but has not disclosed the exact number. The layoffs are expected to save up to €400 million ($421 million) next year and an additional €300 million in 2025.
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Nokia to cut up to 14,000 jobs to lower costs
Nokia is reportedly planning to cut up to 14,000 jobs due to reduced investment in 5G infrastructure by US and European operators. The company has confirmed the job cuts but has not disclosed the exact number. The layoffs are expected to save up to €400 million ($421 million) next year and an additional €300 million in 2025.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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