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Nokia to cut up to 10000 jobs over next 2 years

Startup Pakistan: Finnish telecoms group Nokia said on Tuesday it plans to cut between 5,000 and 10,000 jobs within the next two years to trim costs and invest more in research capabilities.

Nokia expects the restructuring to lower its cost base by about 600 million euros by the end of 2023.

Half of the savings are expected to be realized in 2021.

These savings will offset increased investments in research and development and future capabilities and costs related to salary inflation, the company said.

Courtesy: Startup Pakistan

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