![]() The programme targets business areas Mobile Networks, Cloud and Network Services and corporate functions. Nokia's savings programme is expected to reduce staffing to as low as 72,000, cutting costs by up to 1.2 billion euros ($1.14 billion) by 2026, the company said. "In the third quarter we saw an increased impact on our business from the macroeconomic challenges," CEO Pekka Lundmark said in a statement. The announcement adds to a series of layoffs in the tech industry following a boom during Covid pandemic lockdowns. Nokia CEO Pekka Lundmark said the Finnish telecom group was hit by 'macroeconomic challenges' (Josep LAGO)įinnish telecom giant Nokia said Thursday it would cut up to 14,000 job as profits fell on weakening demand for its 5G equipment in North America.
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