Nokia decided to lay off 353 employees in Finland

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Nokia decided to lay off 353 employees in their home country, Finland, this year. Termination of employee employment is done due to the weakening of the global network market. Another reason for Nokia's dismissal is that it is part of the company's cost-saving plan.

The number of employees affected by these layoffs is less than the original plan, in which Nokia plans to reduce up to 425 employees.

Under the plan, 283 positions will be taken from the business network division, the company's flagship business. Meanwhile, 70 positions will be deducted from the Technologies unit, which includes Nokia's licensing business operations and digital healthcare business.

Globally, Nokia is said to want to make savings worth US $ 1.5 billion each year following the acquisition of Alcatel-Lucent in 2016.

Moreover, the weakness of the equipment and network market prompted Nokia to terminate employment in some of its employees.