Nokia shedding up to 14,000 employees

[Hanno Labuschagne]

Nokia shedding up to 14,000 employees

Nokia Oyj plans to cut as many as 14,000 jobs, or 16% of its workforce, as a dearth of investment in fifth-generation mobile infrastructure forces it to take cost-cutting measures.

The move is expected to save as much as €400 million (R8.05 billion) next year and an additional €300 million (R6.04 billion) in 2025, the Espoo, Finland-based mobile network company said in a statement Thursday.

[Bloomberg]

 

[Sapphiron]

It's like 5G was all hype and little substance

Who would have thought?

 

[RonSwanson]

It's like 5G was all hype and little substance

Who would have thought?

More like saving 700 million Euro over the next 2 years, speaks louder than any tech innovation which requires substantial CAPEX (during a world recession, and on the edge of a global war).

And the handsets are overpriced anyway.

 

[Lupus]

More like saving 700 million Euro over the next 2 years, speaks louder than any tech innovation which requires substantial CAPEX (during a world recession, and on the edge of a global war).

And the handsets are overpriced anyway.

Yeah also never kept to any of their promises.
I fell for it and got a Nokia 8 in 2017, the battery was terrible on that thing.

 

[FiestaST]

Nope, the new logo still not speaking to me.

 

[Swa]

Who cares, it's not like they still make phones.

 

[j4ck455]

Nokia Oyj plans to cut as many as 14,000 jobs, or 16% of its workforce, as a dearth of investment in fifth-generation mobile infrastructure forces it to take cost-cutting measures.

It's already having a detrimental effect on Nokia's corporate logo which is starting to look like parts of it have been used to build shacks somewhere.