The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26.3 - Manufacture of communication equipment
1,300 jobs Number of planned job losses
Announcement Date
15 January 2019
Employment effect (start)
1 January 2019
Foreseen end date
31 December 2019
Description
Finish telecommunications company Nokia is reducing staff in the framework of a plan for efficiency increase. The reorganisation will lead to cut 1,330 positions includes staff reductions of up to 350 in Finland on a total of about 6,000 employees, 460 in France on a total of 4,135 employees and 520 in Germany out of a total of 3,500 employees.
According to Nokia, the staff reductions are a result of the now completed incorporation of Alcatel-Lucent into the company’s structure. Nokia bought the company in November 2016 and has since been working on the merger. Since the process is complete, Nokia is now looking to streamline company structures and increase efficiency within the organisation. The announced staff reductions are expected to save up to €700 million until the end of 2020.
Eurofound (2019), Nokia, Internal restructuring in European Union, factsheet number 96604, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/96604.
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