Nokia to slash 350 jobs in Finland

Nokia
Nokia will cut 350 jobs in Finland as it looks to find $800 million in savings by next year. (Monica Alleven/FierceWireless)

Nokia plans to cut 350 jobs in its home country of Finland as it works towards a goal of $800 million in savings by 2020.

Nokia has about 6,000 employees in Finland, according to a story from Reuters. After a quarterly drop in revenue, Nokia announced in October that job cuts would be forthcoming, but didn't provide any additional details at the time.

"The planned changes are indispensable to secure Nokia's long-term competitiveness," Tommi Uitto, head of the company's Finnish operations, said in a prepared statement, according to Reuters.

Mobile World Congress 2019

Attend the 2-Day Executive 5G Panel Series

FierceWireless is returning to Barcelona, Spain, during Mobile World Congress 2019 with a two-day Executive 5G Panel Series at the Fira Congress Hotel, conveniently located across the street from the MWC Convention Center. The panel events will take place on Feb. 25-26 and will cover 5G and The Fixed Wireless Access Opportunity, Taking 5G Indoors, and Making 5G Ubiquitous. Attendees will have the opportunity to network and hear from 5G leaders including Verizon, Vodafone, Orange, Sprint, NTT Docomo, Boingo Wireless, Qualcomm, and more over the course of two days.

Secure your spot at the event today! Now is your chance to join fellow industry professionals for networking and education. Registration information and the schedule can be found on the website here.

While Nokia, Ericsson and Huawei have been impacted by the slowdown in the purchasing of 4G related gear, Huawei's ongoing security concerns in the U.S. and other countries could give a lift to the bottom lines of both Nokia and Ericsson.

Related: Nokia CEO: ‘We’re looking very good in 5G’

Nokia is also banking on the rollout of 5G services in some areas this year to boost its bottom line.

“The initial development of our 5G business has been strong and we will increase our investments into this critical technology,” Uitto said.

Read more on