The company said in a statement it expects about 600 million euros ($715 million) to 700 million euros of restructuring and associated charges by 2023. Nokia currently has 90,000 employees, and has cut thousands of jobs following its acquisition of Alcatel-Lucent in 2016. It expects the current restructuring to lower its cost base by about 600 million euros by the end of 2023. France, where Nokia cut https://www.reuters.com/article/us-nokia-france-layoffs/nokia-to-cut-1233-jobs-at-french-subsidiary-alcatel-lucent-unions-idUSKBN23T17U?il=0 more than a thousand jobs last year, was excluded from the current restructuring. Nokia plans to increase investments in research and development and future capabilities including 5G, cloud and digital infrastructure.

Source: The Star March 16, 2021 06:58 UTC