Nokia Corporation, commonly referred to as Nokia, is a multinational telecommunication and consumer electronics company with its headquarters in Espoo, Finland. Founded in 1865, the company was the largest worldwide vendor of mobile phones during the year 1998.
In late 2000s, Nokia restructured its offerings and partnered with Microsoft, this arrangement led to the sale of the company’s mobile phone business, now incorporated as Microsoft Mobile.
According to recent reports, Nokia is looking to layoff about 14,000 employees by the end of 2026, in a bid to cut costs across the organization. The company mentioned that the layoffs were a necessary step to adjust to market uncertainty and maintain its long-term profitability.