By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Live Trading NewsLive Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
Reading: Nokia Job Cuts: A Sign of the Times for the Telecom Industry
Share
Live Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Follow US
© 2024 LiveTradingNews.com - All Rights Reserved.
Live Trading News > Blog > Business > Market > Nokia Job Cuts: A Sign of the Times for the Telecom Industry
2023

Nokia Job Cuts: A Sign of the Times for the Telecom Industry

John Heffernan
Last updated: October 20, 2023 12:07 am
John Heffernan
Share
3 Min Read
SHARE

Nokia, the Finnish telecom equipment maker, announced on Thursday that it would cut up to 14,000 jobs, or 16% of its workforce, as it grapples with slowing 5G gear demand and uncertain growth.

Contents
Why is Nokia cutting jobs?What does this mean for the future of Nokia?Conclusion

The job cuts, which are expected to be completed by the end of 2026, will affect employees across all levels and functions globally. The company said it would focus on reducing costs and streamlining operations in order to improve profitability.

Nokia’s decision to cut jobs comes as the global telecom industry is facing a number of challenges, including rising inflation, supply chain disruptions, and the war in Ukraine. These challenges have led to a slowdown in demand for 5G gear, which is Nokia’s core business.

In addition, Nokia is facing increasing competition from Chinese rivals, such as Huawei and ZTE. These rivals have been able to offer lower prices and more aggressive financing terms, which has made it difficult for Nokia to compete.

Nokia’s job cuts are a sign of the challenges facing the global telecom industry. The company is not alone in cutting jobs; other telecom operators and equipment makers have also announced job cuts in recent months.

Why is Nokia cutting jobs?

Nokia is cutting jobs for a number of reasons, including:

  • To reduce costs and improve profitability
  • To streamline operations
  • To respond to slowing 5G gear demand
  • To address increasing competition from Chinese rivals

What does this mean for the future of Nokia?

Nokia’s decision to cut jobs is a sign that the company is facing some challenges. However, the company remains a leader in the global telecom equipment market. Nokia is also investing in new technologies, such as 6G and cloud networking.

It is too early to say what the long-term impact of Nokia’s job cuts will be. However, the company is likely to remain a major player in the global telecom industry.

Conclusion

Nokia’s decision to cut up to 14,000 jobs is a sign of the challenges facing the global telecom industry. The company is not alone in cutting jobs; other telecom operators and equipment makers have also announced job cuts in recent months.

It is too early to say what the long-term impact of Nokia’s job cuts will be. However, the company is likely to remain a major player in the global telecom industry.

You Might Also Like

Catholics and Muslims in Israel: A Call for Greater Political Voice

Qatar’s Venture Capital Surge

The U.S. Dollar: Trump Cannot Save It—Buy Gold and Bitcoin

Quo Vadis: A Defining Moment in Church History

The Papal Tiara: A Crown of Earth and Heaven

TAGGED:#job#telecomutingNokia

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Subscribe our newsletter for latest news around the world. Let's stay updated!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
By John Heffernan
Follow:
John Heffernan is a BSc Economist with Honors. Currently working as an Analyst at KXCO, and has contributed on equities and Crypto at Live Trading News.
Previous Article Bank of America’s Unrealized Losses on Securities Rise to $131.6 Billion
Next Article Nvidia to Challenge Intel with Arm-Based PC Chips


Latest News

Founders Pitching and Power Networking with SEA Region Decision Markers
Featured Headline News KXCO Guide May 6, 2025
How to Protect Your Portfolio Against Global De-Dollarization
America Asia China China Stocks Headline News Middle East Most Popular Opinion Shayne Heffernan Shayne Heffernan Start Ups Stocks May 6, 2025
Target150 Stem Cell Therapy and Wellness in Thailand
Featured Headline News Lifestyle Lifestyles of the RIch and Famous Living Luxury Most Popular Thailand May 6, 2025
The End of the Dollar Is Nigh
Asia Crypto Economy Headline News May 6, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
4.4kFollowersFollow
//

Stay informed with LiveTradingNews.com – your ultimate destination for timely and insightful updates on global markets, finance, and investment trends. Explore the latest news and analysis to empower your trading decisions.

Quick Link

  • About us
  • Advertise
  • Send us a tip!
  • Privacy Policy
  • Contact us

Top Categories

  • Knightsbridge Insights
  • Featured
  • Stocks
  • Shayne Heffernan
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Subscribe our newsletter for latest news around the world. Let's stay updated!

Live Trading NewsLive Trading News
Follow US
© 2025 LiveTradingNews - For The Traders, By The Traders – All Right Reserved By Knightsbridge Group
Welcome Back!

Sign in to your account

Register Lost your password?