Nokia continues to reform its cost structure and plans to cut more than 200 jobs in Finland.

Thanks to CTOnews.com netizen Xiao Zhan for the clue delivery! CTOnews.com May 4, Nokia issued a statement on May 3, announcing that it would continue to announce the cost structure reform and business restructuring measures announced in Finland in 2021. The company has begun layoff negotiations with worker representatives in Finland, which could lead to up to 208 layoffs.

Nokia said the job cuts were part of a broader savings plan announced in 2021, with an initial plan to cut as many as 10000 jobs worldwide within two years. However, Nokia said recently that favorable market conditions have led to lower-than-expected demand for layoffs.

Nokia also said the decision on layoffs would be announced after the negotiations were completed. The company currently employs about 7000 people in Espoo, Oulu and Tampere. The negotiations affected Nokia employees at all locations in Finland, with the exception of the factory in the northwestern city of Oulu.

Nokia noted that it hired about 1200 product development experts in Finland between 2021 and 2022 and would continue to monitor overall market conditions and assess further measures if necessary.

According to previous CTOnews.com reports, Nokia's adjusted operating profit for the first quarter of 2023 is 479 million euros (currently about 3.616 billion yuan), with an estimated 544.4 million euros; adjusted earnings per share is 0.06 euros, estimated 0.07 euros.