Telecom network equipment giant Nokia recently completed discussions for laying off employees in its home country of Finland. As a result of the talks, Nokia will cut 170 jobs, the company stated on June 9.
The job cutting discussions were first announced in May, when the company said it was preparing to fire up to 200 employees from network operations and support functions, Reuters reports. The majority of job cuts (70 percent) will be from Nokia's Espoo headquarters and will be completed by the end of 2017.
Nokia has around 6,100 employees in its home country and around 101,000 globally. The vendor is providing aid to staff affected by the layoffs, such as referring them to other available positions which arise through the remainder of the year, and also retraining staff to find alternative positions within the company.
Last year Nokia laid off 960 employees in Finland and also said it would fire up to 1,400 positions in Germany. The staff reductions are part of a 1.2 billion euro ($1.3 billion) worldwide cost-savings plan which Nokia announced after its 2016 acquisition of Alcatel-Lucent. The company said at the time that it expected to benefit from cost savings of 1.2 billion euros in the form of synergies during 2018.