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Finance

Why Nokia Is Cutting Jobs in France

With respect to cutting jobs in France, Nokia can only go so far. The company is required to maintain a total French workforce of 4,200 employees until 2018. When Nokia announced its plans to eliminate about 600 jobs in France, the French government and unions worried that the move could jeopardize the company’s employment pledge.

As a result, Nokia’s layoff plan was temporarily suspended until after the French government, unions, and Nokia management met to discuss the plan for the job cuts, Reuters reported.

Nokia ended 2016 with a workforce of about 101,000 employees worldwide. Its Europe-based (EFA) competitor Ericsson (ERIC) finished 2016 with more than 110,000 employees globally. Cisco Systems (CSCO), the US-based (SPY) partner of Ericsson, ended fiscal 2016 with a global workforce of 73,700 employees.

View more information: https://marketrealist.com/2017/10/why-nokia-is-cutting-jobs-in-france/

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