Nokia to cut 1,300 jobs in Finland
Helsinki, April 7: Finnish communication giant Nokia said that it plans to slash about 1,300 jobs in Finland by 2018.
Nokia said in a press release on Wednesday that it is set to start collective negotiations, Xinhua news agency reported.
The company employs about 6,700 workers in Finland by the end of 2015.
According to the company, the layoffs mainly focus on those areas where there are overlaps, such as research and development, regional sales organisations, as well as corporate functions.
Nokia did not disclose how many jobs will be slashed globally.
The mass redundancies are designed to meet the objective of 900 million euros of operating cost synergies to be achieved in 2018 related to the acquisition of Alcatel-Lucent, said the company.
Rajeev Suri, CEO of Nokia, said Nokia made a commitment to deliver 900 million euros ($1.03 billion) in synergies when it announced the acquisition of Alcatel-Lucent.
In January 2016, Nokia finalised the acquisition of his French- American rival Alcatel-Lucent.