At the end of 2018, Nokia announced it is still dedicated on the improvement of its operations in the homeland and in the world. That means Nokia is planning on further cost savings measures that will eventually lead to the job cuts. The main aim was to save approximately €700 million till 2020. At the beginning of 2019, Nokia announced that just in Finland around 350 people would lose their position in the company, and negotiations were started between the workers and the administration representatives to save some jobs. The talks resulted in 280 layoffs, and around 70 people would still be working in the company.
Nokia is currently employing around 6000 people in Finland, and each job cut further breaks the faith Finns have in one of their national symbols. Hopefully, 5G business will stabilize Nokia’s finances and open new opportunities at the local market which could result in some new job positions.