Nokia cuts 2,000 jobs in China for cost-saving: report

Quick Summary:

Nokia has laid off around 2,000 employees, about 20% of its workforce in China, and plans to cut another 350 jobs across Europe to reduce costs, Reuters sources say.

A Nokia spokesperson confirmed the European layoffs but did not comment on those in China.

Once its second-largest market, China has seen contract values with Nokia and Ericsson drop sharply since 2019 due to Western bans on Huawei technology, the report said.

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Article Details

Category: Technology

Markets: China

Topics: Inbox Jobs Report Employees Industry Nokia Europe Tech Plans China Wednesday

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 09:03:00 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: technode.com

Language: English

Article Length: 112 words

Reading Time: 1 minutes read

Sentences: 10 lines

Sentence Length: 12 words per sentence (average)

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Copyright Owner: © TechNode

News ID: 23117825

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