Nokia Announces Nearly 600 Job Cuts In France
Muhammad Rameez Published September 07, 2017 | 02:30 PM
Finnish telecoms giant Nokia said Thursday it planned to cut around 600 jobs in France as it seeks to make cost-savings and refocus its loss-making businesses
PARIS, Sept 7 (UrduPoint / Pakistan Point News - 07th Sep, 2017 ) - Finnish telecoms giant Nokia said Thursday it planned to cut around 600 jobs in France as it seeks to make cost-savings and refocus its loss-making businesses.
The group said it planned to reduce its headcount in France by 597, a little over 10 percent of its total workforce in the country, with French trade unions calling the move "unacceptable." Nokia, which no longer makes handsets having sold that business to microsoft, bought French-American telecoms equipment maker Alcatel-Lucent in 2015 in a deal that was expected to lead to savings.
The cuts in France will be focused on administrative and support services and will not effect research and development as it refocuses on high-speed 5G telecom networks, cybersecurity and internet-linked appliances, the group said.
Nokia is aiming to make 1.2 billion Euros (1.4 billion Dollars) in total cost savings by the end of 2018 following net losses of 766 million euros last year.
Related Topics
Recent Stories
Dar for joint action to counter Islamophobia in context of Israeli aggression ag ..
Azam Tarar urges for effective implementation of Action Plan for Human Rights
PAF cadets' graduation ceremony held
One-day national seminar "Great Power Competition: Challenges and Opportunities ..
10 firms submit LoIs for PIA: Aleem Khan
Saudi Arabia launches Nusuk pilgrim card for the Hajj of 2024
High Commissioner Hawkins hosts reception to mark 'Australia Day in Spring'
PM forms inquiry committee to probe matter of wheat import
E-Evidence system inaugurated in Bahawalnagar district courts
Bitterness at UCLA as Gaza protest cleared
Kenya, Tanzania brace for cyclone as heavy rains persist
DC reviews seven-day anti-polio drive in Federal Capital
More Stories From Business
-
10 firms submit LoIs for PIA: Aleem Khan
4 hours ago -
Trained manpower imperative for food security: Dr Sarwar
6 hours ago -
Asian Development Bank (ADB) delegation visits Federal Board of Revenue (FBR)
7 hours ago -
Pakistan's total liquid foreign reserves reach $ 13.316 billion
8 hours ago -
WWF-Pakistan rolls out regenerative agriculture practices initiative
8 hours ago -
Govt to equip agri-sector with modern technology: Rana Tanveer
8 hours ago
-
US trade gap wider than anticipated in March
8 hours ago -
Pakistani entrepreneurs asked for exploring business opportunities in Ethiopia
8 hours ago -
US trade gap wider than anticipated in March
8 hours ago -
Mongolian envoy for joint efforts to improve trade ties
8 hours ago -
Rupee gains 01 pasia against US dollar
9 hours ago -
Ahsan Iqbal expresses Pakistan's eagerness to enter CPEC Phase-II
10 hours ago