Nokia Cuts Almost 2,000 China Jobs Amid Tough Telecom Market
- Headcount reduction is part of broad cost-reduction program
- Nokia also cutting 350 jobs in Europe, 48 of them in Finland
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Nokia Oyj has cut almost 2,000 jobs in China, as part of a sweeping cost-reduction program as the Finnish company grapples with a sluggish telecom equipment market, according to a person familiar with the matter.
The job cuts are part of a broad effort announced last year to reduce headcount by as much as 14,000, said the person, who asked not to be identified discussing a private matter. Nokia employs about 10,400 people in Greater China as of the end of 2023, according to a company report.