Nokia to cut up to 14,000 jobs as 5G demand slows

Nokia had hoped that its 5G rollout in India would compensate for a slowdown in spending by North American telecom operators this year, but was faced with a disappointment. — Reuters

HELSINKI: Finnish telecom giant Nokia said Thursday (Oct 19) it would cut up to 14,000 job as profits fell on weakening demand for its 5G equipment in North America.

The announcement adds to a series of layoffs in the tech industry following a boom during Covid pandemic lockdowns.