khaskhabar.com : Thursday, October 19, 2023 1:06 PM
New Delhi. Finnish telecom equipment giant Nokia will eliminate 14,000 jobs as it cuts costs after a sharp decline in third-quarter earnings.
Nokia’s third-quarter net sales fell 20 percent year-on-year to 4.98 billion euros, while the company’s profit fell 69 percent year-on-year to 133 million euros due to 5G sales, leading to massive layoffs. Devices slowed down in major markets like the US.
Nokia currently has 86,000 employees. Meanwhile, the company is planning to reduce the number of employees to between 72,000 and 77,000.
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