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Nokia goes on a job cutting spree globally with 1300 slashed in Finland

06 April 2016 0

Nokia is planning to cut about 1,300 jobs in its native Finland as part of a $1 billion cost-saving plan following its acquisition of French rival Alcatel-Lucent. The firm says that half the job cuts will be made in Espoo, where Nokia is headquartered, with the remainder in Oulu and Tampere.

Tuula Aaltola, a shop steward for Nokia’s senior workers, said:

“It is quite a surprisingly big number. We were believing that as the headquarter country the reductions would be elsewhere. It’s really quite a shock.”

Nokia started its global job cutting program on Wednesday when it began meeting worker councils and employee representatives in almost 30 countries. It targets 900 million euros ($1.02 billion) of operating cost synergies by 2018 after acquiring the rival French firm Alcatel-Lucent.

An additional 1,400 jobs will be cut in Germany, where the company still has a large operation from its previous partnership with Siemens, and a further 400 jobs in France.

Rajeev Suri Nokia’s President and CEO said in a statement:

"These actions are designed to ensure that Nokia remains a strong industry leader.When we announced the acquisition of Alcatel-Lucent we made a commitment to deliver EUR 900 million in synergies - and that commitment has not changed. We also know that our actions will have real human consequences and, given this, we will proceed in a way that that is consistent with our company values and provide transition and other support to the impacted employees."

The company had about 55,000 employees before the acquisition of Alcatel, but this almost doubled with the purchase of its French rival. The group said the job losses would take place by the end of 2018. Nokia currently employs about 6,850 people in Finland and around 104,000 globally.


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Nokia goes on a job cutting spree globally with 1300 slashed in Finland
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