(News Bulletin 247) – Nokia announces today the continuation of measures aimed at reforming its cost structure and reorganizing its activities in Finland within the framework of a program announced in 2021.
The company has invited employee representatives in Finland to negotiations over the change, which are expected to result in up to 208 job cuts.
All Nokia sites in Finland are affected by the plans, but areas such as system-on-chip (SoC) development and the Oulu plant are not covered by the change negotiations.
‘Our goal is to ensure long-term sustainable and profitable growth. We will do our best to support our employees,” said Tommi Uitto, President of Nokia’s Mobile Networks Business Group and Country Manager for Finland.
In March 2021, Nokia announced a cost restructuring program which is expected to lead to an organization of 80,000 to 85,000 employees worldwide, down from 90,000, with exact numbers depending on market developments.
At group level, Nokia expects the overall program to reduce its cost structure by around €600 million by the end of 2023.
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