Nokia, the Finnish multinational telecommunications company, has a goal to save 500 million euros in expenses by the end of 2020 and will in result lay off about 180 people in Finland. The largest number of job cuts will concern Espoo.
The 5G development teams and the Nokia factory in Oulu will be excluded from the layoffs.
“We have updated our previously announced goal of saving 700 million euros to saving 500 million euros, mostly because we are expecting to invest more into 5G and digitalization,” says Tomi Uitto, the president of the mobile networks and country senior officer of Nokia, in a statement.
Nokia has currently about 6,000 workers in Finland.