New Delhi: Telecom company Nokia is moving ahead with a large global cost-cutting plan that could see up to 14,000 employees losing their jobs. The layoffs are part of a broader strategy to reduce expenses and improve profitability by 2026.
The company had first announced this plan after facing a slowdown in demand for 5G equipment, especially in key markets. Weak sales and lower profits pushed Nokia to restructure its operations and cut costs.
India Teams Could Be Affected
While the layoffs are global, India is expected to feel some impact as well. Nokia has a significant workforce in the country, and past restructuring efforts have also affected roles in India.
However, the exact number of employees likely to be impacted in India has not been officially confirmed.
Why Nokia Is Cutting Jobs
The company is reducing its workforce mainly due to:
Slower rollout of 5G networks in some regions
Falling demand for telecom equipment
Pressure to improve margins and cut costs
Nokia aims to bring down its total employee count from around 86,000 to between 72,000 and 77,000 as part of this plan.
Ongoing Global Restructuring
The layoffs are not happening all at once but are part of a phased plan that will continue over the next few years. The company has already started cutting jobs in some regions as part of this effort.
What It Means
The move highlights the ongoing challenges in the telecom sector, where companies are facing slower growth and rising competition. For employees, especially in large markets like India, it raises concerns about job security in the coming months.
