Credit: Nokia
Telecoms giant Nokia has announced it will be cutting up to 14,000 jobs, a decision it blamed on the slowing demand for 5G equipment.
On Thursday, the company reported that its third-quarter net sales declined by 20% year-on-year, with profit over the same period dropping by 69%. Nokia said that as a result, it will be implementing cost-cutting measures to try and save between $842 million and $1.2 billion by 2026, eliminating $422 million worth of costs in 2024 and a further $316 in 2025.
“The most difficult business decisions to make are the ones that impact our people. We have immensely…
