Nokia has unveiled plans to cut up to 10,000 jobs worldwide in the next two years and wants to use the savings to catch up with rivals on 5G technologies. The plan also comes as the Covid-19 continues to take a heavy toll on economies around the world.
Nokia is planning to reduce its workforce from the current 90,000 to between 80,000 and 85,000 over the next 18 to 24 months. The exact number of those who will lose their jobs will depend on market developments.
Nokia will invest the estimated €600m (£515m) annual cost savings in research & development, particularly in 5G, cloud, and digital infrastructure.
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Mozambique insurgency: Children beheaded, aid agency reports
A leading aid agency says that children as young as 11 are being beheaded in Mozambique’s Cabo Delgado province. One mother told Save the Children she had to watch her 12-year-old son killed in this way close to where she was hiding with her other children.
More than 2,500 people have been killed and 700,000 have fled their homes since the insurgency began in 2017. Militants linked to the Islamic State (IS) group are behind a conflict in the province.
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Securing The Future Of Our Kids By Teaching Them Matters To Do With Money
As a nation, we tend to shy away from the topic of money. Our financial habits and attitudes to household finances are formed from a very young age and are largely influenced by how we saw our parents manage their finances.
Unfortunately as a country, we seem to have left this responsibility to everyone else except us. Look at how we managing our national resources. Look at the student loans at HELB. It’s a deep, roaring cry that something needs to be done and done now before it’s too late.