On March 17, Market Watch, a financial website, reported that Nokia said on March 16 that it would cut costs by about 600 million euros (about 4.644 billion yuan) in the next few years. As part of the plan, it would cut 5000 to 10000 jobs.

Market Watch, whose Chinese name is Market Watch, was acquired by Dow Jones in 2005. The source is very reliable. However, it should be noted that the Finnish Nokia is a telecom manufacturer engaged in mobile network infrastructure, cloud services and other businesses. The Nokia smart phone we see now is the work of Nokia's brand authorized manufacturer HMD (the latter obtained the exclusive use right for 10 years in 2016).

Nokia said that the reduced costs will be used to offset "the increase in R&D investment in 5G, cloud and digital infrastructure, wage increases and other areas that will benefit it in the long run" (high EQ: investment in R&D in 5G, cloud and digital infrastructure will increase).

The layoffs will be carried out in the next 18-24 months, and the number of Nokia employees will be reduced from the current 90000 to 80000-80000. Based on the minimum 5000 employees, the reduction rate is 5.6%. Calculated by 10000 people, it is 11.1%.

CEO Pekka Lundmark said: "Nokia now has four fully responsible business units. Each business unit has found a clear way to achieve sustainable and profitable growth, and is resetting its cost base to invest in its future."

HMD Nokia phones in recent years

It is also reported by Market Watch that Nokia laid off 10000 employees in 2012 and about 3100 employees in 2016.