Finnish company Nokia plans to cut 300 jobs in Germany by 2026 as part of a global cost-cutting program, the Süddeutsche Zeitung newspaper reported.
According to the newspaper, the company also confirmed that it intends to close its Munich office by 2030. The planned closure will affect more than 500 additional jobs. “Especially in times of geopolitical challenges, when a key company reduces its presence in Germany, it is a disastrous signal,“ said Daniele Frigia, managing director of the Munich branch of the IG Metall union. According to IG Metall, Nokia employs 2,500 people in Germany.
A company representative explained that as part of its global localization strategy, Nokia will focus its investments on key sustainability centers in Germany and around the world. At the same time, it is noted that the company intends to maintain a presence in production centers located in cities such as Ulm, Stuttgart, Bonn and Düsseldorf.
In 2023, Nokia announced plans to cut up to 14,000 jobs worldwide in the coming years. The expected savings will range from 800 million to 1.2 billion EUR.