Finnish telecommunications company Nokia is preparing for a major restructuring of its operations in Finland that could lead to hundreds of its staff being made redundant, Helsingin Sanomat reported on Wednesday.
According to the newspaper's information, the firm will begin talks with staff representatives either this summer or in the autumn, but that decision is still pending. The number of jobs on the line will also be decided at a later date, HS added.
Nokia announced a massive savings programme in October that could see it shed 14,000 jobs worldwide over the next three years. The company said at the time that it aims to reduce costs by between 800 and 1.2 billion euros by 2026.
Nokia employs about 6,800 people in Finland, and held three different rounds of restructuring talks with staff representatives last year alone, as it responds to a challenging global marketplace and disappointing quarterly results.
Nokia CEO Pekka Lundmark said last year that decisions to cut jobs were the most difficult to make, but were a "necessary step to adjust to market uncertainty and to secure our long-term profitability and competitiveness."
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