2022年1月28日

Nokia plans to increase investment in 5G research and development

Nokia, the Finnish telecoms equipment company, plans to cut jobs in an effort to cut costs and increase spending on research and development. HEL: Nokia (NYSE: NOK) said Tuesday it will cut 5,000 to 10,000 jobs in an effort to save money and invest more in research and development in areas such as 5G, cloud and digital infrastructure.


Nokia plans to reduce its workforce from 90,000 to between 80,000 and 85,000 over the next 18 to 24 months, according to the announcement. The company expects this to result in incremental savings of about 600 million euros by the end of 2023, which will be used to increase research and development spending and offset costs related to wage increases.

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