Nokia to cut up to 14,000 jobs after profits drop

Agency

Published: October 19, 2023, 12:38 PM

Nokia to cut up to 14,000 jobs after profits drop

Finnish telecom giant Nokia said Thursday it could cut its workforce by as many as 14,000 after its third quarter results showed a drop in profits.

The lay offs are expected to reduce the firm‍‍`s employees to 72,000, reducing costs by up to 1.2 billion euros ($1.14 billion) by 2026, it said.

 

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