Finnish tech giant announces massive job cuts ...News

Russia Today - Economy
Finnish tech giant announces massive job cuts
source : Russia Today ( News ) () 25
Nokia's decision comes after the company recorded a big drop in revenue Finnish telecom multinational Nokia announced that it would slash up to 14,000 workers as part of a broader cost reduction plan after the company’s earnings plunged 69% in the third quarter. The announcement was made on Thursday as the company reported a 20% year-on-year drop in sales between July and September to €4.98 billion ($5.26 billion). Nokia’s profit over the period plunged by 69% year-on-year to €133 million. The company said that the decision is expected to help it to lower its cost base and increase operational efficiency to “addre

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