Chief Executive Pekka Lundmark announces the wide-ranging and restructuring of the company. She adds that ” market developments in the next two years will determine the exact number of job losses.”
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On Tuesday Finnish telecoms equipment , maker of NOKIA announces that “it will slash up to 11 percent of its workforce within two years, as part of a 600-million-euro ($715-million) cost-cutting programme.”
“As per plan re-structuring will result in an 80,000-85,000 employee organization, over an 18-24-month period, instead of the approximately 90,000 employees Nokia has today,” the company’s statement.
The statement also claims that “The firm will also streamline its portfolio and reduce “site fragmentation” in the long-term.” Company CEO Lundmark also adds “In those areas where we choose to compete, we will play to win.”