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Nokia says will cut up to 148 jobs in Finland this year

Reuters
FILE PHOTO: Telecommunication network company Nokia - Q2 2018 results

HELSINKI (Reuters) - Finnish network equipment maker Nokia will cut up to 148 jobs in Finland in 2020 excluding its 5G development operations, it said on Tuesday evening.

In January, Nokia had said it would cut up to 180 jobs in Finland but the number came down following statutory negotiations with its employees.

The company announced earlier this week it had rehired former executive Pekka Lundmark from energy group Fortum to replace Rajeev Suri as its chief executive, in an effort to revive its faltering 5G business.

(Reporting by Anne Kauranen)