Nokia to Shutter Hangzhou R&D Site as Its Long-Awaited Chinese Job Cuts Begin
24 Articles
24 Articles
The well-known Finnish manufacturer of telecommunications equipment Nokia will fire most of its staff in China and close most of its facilities before the end of this year, in the face of the rise of local rivals. According to sources quoted by Hong Kong South China Morning Post, the company announced the reduction ... Continue reading "Nokia leaves behind her glory days in China: she will fire thousands of people and leave the country" The post…
Nokia's China Shock: Operations Shutting Down, Thousands Jobless
Nokia is winding down virtually all of its mainland China operations, planning to close facilities and sharply reduce local headcount by the end of 2026. The Finnish telecommunications equipment maker said the exit is driven by sustained competitive pressure from domestic rivals and geopolitical conditions that have made further investment in the region economically unjustifiable. Scope and timeline of the withdrawal The largest single impact fa…
The well-known Finnish manufacturer of telecommunications equipment Nokia will fire most of its workforce in China and close most of its facilities before the end of this year, withdrawing from which it became its world's leading market in the face of the boom of local rivals.Keep reading...
By the end of this year.
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