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Nokia to cut 1,300 jobs in Finland by 2018

Sci & Tech

By Standard Reporter | Apr 07, 2016

Finnish communication giant Nokia announced on Wednesday that it plans to slash about 1,300 jobs in Finland by 2018.

Nokia said in a press release that it is set to start collective negotiations. The company employs about 6,700 workers in Finland by the end of 2015.

In a separate press release on Wednesday, Nokia said it launches measures to reduce its personnel globally as part of its synergy and transformation program.

According to the company, the layoffs mainly focus on those areas where there are overlaps, such as research and development, regional sales organizations, 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.

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Rajeev Suri, CEO of Nokia, said Nokia made a commitment to deliver 900 million euros(1.03 billion U.S. dollars) in synergies when it announced the acquisition of Alcatel-Lucent.

In January 2016, Nokia finalized the acquisition of his French-American rival Alcatel-Lucent.