Telecom equipment maker Nokia will slash around 1,500 jobs in India as part of its global restructuring plans.
The restructuring plans aimed at reduction in cost will hit Nokia’s global operations as well as its India operations.
Nokia India will start consultation processes in this regard soon. “It is too early to comment in detail, but we expect the consultation processes to start shortly, where applicable. Business groups are looking to reduce site fragmentation, but we have no further details at this point,” a Nokia spokesperson told Times of India.
Nokia has 20,511 employees in the Asia-Pacific region. Nokia has over 15,000 employees based in India. Nokia’s operations are centred in five key locations in India– Bengaluru, Chennai, Gurgaon, Mumbai and Noida.
The telecom networking supplier has project offices across 26 Indian cities. Nokia has two global service delivery centres in India– Noida and Chennai, employing over 4,200 people. The telecom giant also has a manufacturing headquarter in Chennai and an Innovation Centre in Bengaluru. Nokia’s innovation centre in Bengaluru employs 6,300 people for research in communication technologies.
Nokia earlier said it is planning to cut up to 10,000 jobs globally in the next two years. Nokia is expected to cut its cost base by 600 million euros at the end of 2023 and expects to realise half of its savings in 2021. Nokia also lowered its revenue forecast from 21.9 billion euros in 2020 to 20.6-21.8 billion euros in 2021.
