Nokia to cut up to 10,000 jobs to ramp up R&D in 5G race

(Dave Thompson/PA)

Wireless network maker Nokia says it is planning to cut up to 10,000 jobs – more than 10% of its staff – to reduce costs as it invests in research and development and tries to cement its role as a key supplier of 5G technology.

The restructuring means the number of staff is expected to fall to 80,000-85,000 over a period of up to two years, Nokia said.