Nokia culls 350 jobs in Finland

Stefan Mileschin · 15th January 2019, 14:18

More cost cutting

Former rubber boot maker Nokia is to slash 350 jobs in Finland as part of a cunning cost cutting plan.

Nokia said the move was part of ongoing plans to find savings worth 700 million euros ($800 million) by 2020.

Head of the company’s Finnish operations, Tommi Uitto, said in a statement said that the planned changes are indispensable to secure Nokia’s long-term competitiveness.

The redundancies had been expected since October when the Finnish telecoms equipment maker’s third-quarter results missed expectations.

As part of the latest rejig it will create a new “enterprise” unit, led by its chief strategy officer Kathrin Buvac.

Nokia has already been slashing costs as part of its acquisition and integration of Alcatel-Lucent. The latest plan will cost €900m to deliver and is necessary for the company to hit its long term profit targets, according to chief executive Rajeev Suri.

https://fudzilla.com/news/network/47...obs-in-finland

15th January 2019, 14:18	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 153,575	Nokia culls 350 jobs in Finland More cost cutting Former rubber boot maker Nokia is to slash 350 jobs in Finland as part of a cunning cost cutting plan. Nokia said the move was part of ongoing plans to find savings worth 700 million euros ($800 million) by 2020. Head of the company’s Finnish operations, Tommi Uitto, said in a statement said that the planned changes are indispensable to secure Nokia’s long-term competitiveness. The redundancies had been expected since October when the Finnish telecoms equipment maker’s third-quarter results missed expectations. As part of the latest rejig it will create a new “enterprise” unit, led by its chief strategy officer Kathrin Buvac. Nokia has already been slashing costs as part of its acquisition and integration of Alcatel-Lucent. The latest plan will cost €900m to deliver and is necessary for the company to hit its long term profit targets, according to chief executive Rajeev Suri. https://fudzilla.com/news/network/47...obs-in-finland

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