Nokia plans to cut about 180 jobs in Finland this year, and while the cuts will apply to all Nokia locations in Finland, the company said the biggest impact will be in Espoo.
The cuts, which won’t affect Nokia’s investments in 5G technology and digitalization, are part of a wider initiative to cut costs. The company is seeking cost savings of EUR 500 million by the end of 2020.
“On October 25, 2018 Nokia announced plans to accelerate strategy execution, sharpen customer focus, and maintain long-term cost leadership. As part of these plans, we continue with our costs savings program to achieve a sustainable cost structure, to strengthen our competitive position and to improve Nokia’s profitability,” the company said in a statement.