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Nokia to Layoff Over 1,000 Personnel in Finland

Finnish Multinational Giant Nokia declared on Friday that it would conclude over 1,000 jobs in Finland. The firm has approved out the Finnish style consent discussion with its personnel. According to Xinhua’s report, lay off will begin in 2018.

The company has employed about 104,000 employees globally, 7000 out of the total are in Finland. Recently, Nokia acquired Alcatel-Lucent so the firm is amending its staff and operations worldwide. In annual cost synergy the firm has a universal saving target of EUR 900 million (approximately $1 billion). Earlier this week, Nokia stated that it had signed a selective 10 year licensing deal with HMD Global Oy Finnish company to manufacture Nokia branded smartphone and tablets.

The Finnish Giant says that it will be given royalty payments from HMD for vending of Nokia branded phones, casing both brand and intellectual property rights. A few years ago, the world’s largest mobile maker Nokia lost its position due to not responding to environmental changes. Might be analysts were not aware of the future of mobile phones, however, Apple and Samsung created smartphone and won the race.

To compete its rivals Nokia launched Lumia series, which runs windows but the devices couldn’t perform well. In 2014, the company sold its phone business to Microsoft. The Microsoft started to sale device with its own branding without changing Lumia name. As per previous report, Nokia is coming back in the smartphone world with the Android operating system so stay tuned for new and exciting news.