Nokia To Lay Off 14,000 Employees Due To 19% Decline In Sales

This drop in numbers is primarily attributed to sluggish sales of 5G equipment in markets like North America.

Nokia has announced to reduce its workforce by up to 14,000 jobs due to a 19% decline in third-quarter sales. The programme is projected to result in an organisation with 72,000 to 77,000 employees, as opposed to the current workforce of 86,000 at Nokia, the news agency Reuters reported.

This drop in numbers is primarily attributed to sluggish sales of 5G equipment in markets like North America.

“Mobile Networks net sales declined 19% as we saw some moderation in the pace of 5G deployment in India which meant the growth there was no longer enough to offset the slowdown in North America,” CEO Pekka Lundmark said in a statement.