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Another giant, planning to lay off 14000 employees! Net sales plummeted by 20%

Tech 2023-10-20 21:00:55 Source: Network
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Source: CCTV FinanceAs one of the world's largest communication equipment manufacturers, Nokia Finland announced on the 19th that the company will lay off up to 14000 employees to reduce costs and improve operational efficiency.Nokia's third quarter financial report showed a 20% year-on-year decrease in net sales to 4

Source: CCTV Finance

As one of the world's largest communication equipment manufacturers, Nokia Finland announced on the 19th that the company will lay off up to 14000 employees to reduce costs and improve operational efficiency.

Nokia's third quarter financial report showed a 20% year-on-year decrease in net sales to 4.98 billion euros. As Nokia's main source of revenue, mobile network business revenue decreased by 24% year-on-year in the current quarter.

Nokia attributed the main reason for the decline in third-quarter performance to poor sales performance in North America. Nokia is facing multiple challenges, including a slowdown in global economic growth and a reduction in infrastructure investment by mobile operators.


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