India, Jan. 15 -- Equipment giant Nokia is cutting 350 jobs in Finland under plans to reduce about ?700 million ($800 million) in annual costs in the next two years, the company revealed in a statement today.
The company said the cuts would affect staff across all business groups and support functions, targeting all sites in Finland bar its factory in the city of Oulu.
Nokia Corp. (NYSE: NOK) is understood to employ about 6,000 people in Finland. Including its Finnish workforce, it had about 103,000 employees on its books at the end of December 2017.
"The planned transformation measures are essential to secure Nokia's long-term competitiveness," said Tommi Uitto, Nokia's country manager in Finland, in a company statement. "We will redoub...