Type
Internal restructuring
Country
Finland
Region
Manner-Suomi; Etelä-Suomi; Itä-Uusimaa
Location of affected unit(s)
Espoo
Sector
Information / Communication
Information Communication Services
Telecommunications
61.2 - Wireless Telecommunications Activities

155 jobs
Number of planned job losses
Job loss
Announcement Date
14 July 2023
Employment effect (start)
14 July 2023
Foreseen end date

Description

Finnish telecommunications company Nokia announced that 155 jobs will be cut in Finland, with most cuts at their offices in Espoo. The reason behind the restructuring, according to Nokia, is a weaker estimate of demand for the second half of 2023. The employees that are made redundant will be offered the possibility to participate in a support programme to find employment either within the company or outside of Nokia.

In May of 2023, a restructuring plan with 208 job cuts by Nokia has been recorded in the ERM events database Nokia-2023-FI. Already in 2021, Nokia announced a restructuring plan cutting approximately 5,000 workers from its global workforce Nokia-2021-WO.


Sources

Citation

Eurofound (2023), Nokia, Internal restructuring in Finland, factsheet number 109337, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/109337.