Nokia announced sweeping job loss as the result of its order of Alcatel Lucent. The range of the job slashes has not been confirmed yet though.
The company targeting to reduce EUR 900 million from its costs, to be reached in full year 2018. Nokia is having steps to adjust to market problems and to change resources to future-oriented engineering such as the 5G. as part of the plan, Nokia also proceeds to focus on worldwide saving in real estate, procurement, supply chain, services and production.
The headcount cuts are anticipated to take place concerning now and the end of 2018. The slashes will come largely in areas where there are overlaps, such as development and research, reginal and revenue agencies as well as company function. Nokia company defined these areas on October 29 2015, while changing its synergy goal.