Nokia axing thousands of jobs across Germany and Finland
Nokia is in the midst of some major restructuring efforts with its recent announcement of over 1000 job cuts in Germany alone. As many as 360 employees will get the boot in Stuttgart, 354 more in Munich, 141 in Dusseldorf and Bonn, 84 in Berlin, 49 in Nerumberg, 8 in Ulm, and at least 26 more in various other smaller locations. The downsizing process is expected to last at least until the end of 2017 when Nokia hopes to cut operational costs by 900 million Euros according to Reuters.
Nokia's native homeland of Finland will also see 1300 jobs cut within roughly the same time frame. The company employs over 100,000 employees worldwide.
The downsizing can be attributed to the Nokia's acquisition of the French telecommunications company Alcatel-Lucent earlier this year. Nokia also recently acquired the digital health firm Withings and when based on the relative failure of Nokia smartphones and Windows for mobile, it seems unlikely that the company will have a large focus on consumer smartphones moving forward. Rumors earlier in the year about the Lumia 950 and 950 XL being the last flagship Windows smartphones now seem very reasonable if both Nokia and Microsoft are distancing themselves from the smartphone space.