Nokia announced a massive savings programme aimed at slashing costs and trimming the workforce after disappointing quarterly results.
The telecommunications networks firm said that it was aiming to reduce payroll by up to 14,000 jobs as part of a drive to reduce costs by between 800 and 1.2 billion euros by 2026.
By the end of that cost-cutting programme, the company would have between 72,000 and 77,000 workers, compared to the current 86,000.
Kauppalehti reported on Thursday that some 447 jobs are threatened in Finland.
Nokia CEO Pekka Lundmark said that decisions to cut jobs were the most difficult to make.
"The most difficult business decisions to make are the ones that impact our people," said Lundmark.
"We have immensely talented employees at Nokia and we will support everyone that is affected by this process. Resetting the cost-base is a necessary step to adjust to market uncertainty and to secure our long-term profitability and competitiveness."
The job cuts are expected to primarily affect units working in Mobile Networks, Cloud and Network Services and Nokia’s corporate functions, according to the company's press release.
It is not clear where the job cuts will happen in Nokia's global workforce.
This programme is intended to support Nokia's goal of ensuring profits represent at least 14 percent of turnover by 2026.
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