Nokia intends to cut up to 10,000 jobs in the next 24 months
According to Nokia, the number of job losses will be determined by market conditions over the next two years.
Nokia, the Finnish telecom equipment manufacturer, announced on Tuesday that it would cut 11% of its workforce in two years as part of a 600 million euro ($715 million) cost-cutting program.
Nokia said that market trends over the next two years would calculate the precise number of job losses when it announced the wide-ranging restructuring headed by new CEO Pekka Lundmark.
Nokia said in a statement that “planned restructuring is expected to result in an 80,000-85,000 employee organization over an 18-24-month period, instead of the approximately 90,000 employees Nokia has today.”