Number of Irish employees at risk as Nokia cuts 14,000 jobs globally

The Finnish company is targeting savings of between €800m and €1.2bn by 2026 and expects a 16% reduction in employees at the high-end

Currently, Nokia expects at least €400m of savings in 2024, and a further €300m euros in 2025.

A number of jobs across Nokia's Irish operations are at risk following plans by the company to slash 14,000 roles across its global operations. 

On Thursday, the Finnish company said it did not expect a market recovery soon after posting a 20% drop in third-quarter sales following weaker demand for 5G equipment.