Nokia cuts 2,000 jobs in China

STOCKHOLM, Oct 17 (Reuters): Nokia has laid off close to 2,000 people or about a fifth of its employee base across Greater China and plans to cut another 350 jobs across Europe as part of efforts to lower costs, according to two sources familiar with the matter.

A Nokia spokesperson confirmed the company had opened consultations relating to laying off 350 employees in Europe but declined to comment on Greater China.

As of December 2023, Nokia had 10,400 employees in Greater China and 37,400 employees in Europe, according to its annual report.

The company laid out plans last year to cut up to 14,000 jobs to reduce costs and save between 800 million euros ($868 million) and 1.2 billion euros by 2026.