Nokia: According to sources cited by Reuters, the Finland-based tech corporation Nokia has chosen to lay off around 2,000 workers in Greater China and 350 workers in Europe, or about 20% of its staff. The Nokia layoffs are a component of the company’s goal to reduce costs.

As of December 2023, Nokia employed roughly 10,400 people in Greater China and 37,400 people in Europe.

The business unveiled a strategy last year to eliminate up to 14,000 positions in order to reduce expenses and save up to 800 billion euros ($868 million) and 1.2 billion euros by 2026.