Finnish mobile handset maker Nokia has cut 250 jobs at its site in Naperville, United States, and expects to lose a further 250 positions, a report by Crain’s Chicago Business said late on Monday 17th September .
A Nokia spokesman confirmed that jobs had been cut as part of the Finnish company’s global cost-savings plan, but declined to disclose numbers.
Nokia is looking to save 1.2 billion euros ($1.4 billion) annually by the end of this year following the 2016 acquisition of its former Franco-American rival Alcatel-Lucent.
All 124 countries where Nokia has operations will be affected. Nokia will reduce as much as 14% of its workforce, which would translate into 10,000 to 15,000 positions out of a combined staff of 104,000 globally, according to Bloomberg.
Nokia is taking steps to adapt to challenging market conditions and to shift resources to future-oriented technologies such as 5G, the Cloud and the Internet of Things.