The company says that it has taken this decision to save expenses so that it can work on 5G technology and other things.
Nokia has announced a cut of about 10000 or 10 percent of the total workforce in the next two years to cut its cost and invest more in research. The company has taken this decision to compete with Sweden’s Ericsson and China’s Huawei.
Significantly, the company has invested a lot to strengthen its role as a major supplier of 5G technology and for research and development (R&D) operations. Nokia said that the restructuring means that during the next two years the number of employees can be reduced to 80-85 thousand. This could reduce expenses by $ 71.5 billion by 2023.
The company did not clarify in which countries or geographical areas the deduction will be made, but said that this deduction will be done in its main business units.
“This decision, which may affect our employees, has not been taken in a hurry,” Nokia CEO Pekka Lundmark said in a statement. “It is important to ensure the right setup and capabilities for sustainable long-term performance,” he said.
The company said that the expected savings would increase investment in R&D and increase future costs related to capabilities and salaries. Nokia currently has a total of 90,000 employees and laid off thousands of employees while acquiring Alcatel-Lucent in 2016.
Nokia will launch new smartphone on 8 April
Let us tell you that HMD Global is going to organize an event on April 8 in which many of Nokia’s smartphones and other devices will be launched. According to the news, in this event, the company will launch Nokia G10, the first smartphone of its G series. Along with this, power banks and many other products will also be launched. Let us tell you that apart from all this, the company is also planning to launch Nokia’s new True Wireless earphones in India. It is being claimed that this true wireless earphone will get 22 hours of battery life and its design will also be very special.
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