Nokia announces 170 job cuts in Finland
The telecom network equipment manufacturer Nokia laid off 170 employees from its division in Finland. The job cut is part of a plan to save money after it acquired its main competitor the Franco-American Alcatel-Lucent back in 2016.
Nokia currently has 6,100 employees in Finland and more than 100,000 around the world. This is a second mass job cut after 960 people were laid-off from the Finnish offices last year. 1,400 more will be released in Germany by the end of 2017.
The reductions are part of a €1.2 billion cost-savings plan Nokia is implementing after the 2016 merger.