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- Nokia said on Thursday it is planning to cut up to 14,000 jobs — or around 16% of its workforce.
- The company is planning to lower costs by up to 1.2 billion euros by 2026.
- In a separate statement, the company said sales declined by 15% in the third quarter.
Finland-based mobile company Nokia is planning to cut between 9,000 to 14,000 jobs amid a sales slump and reduced demand for 5G equipment, it said on Thursday. The higher end of these cuts is likely to impact around 16% of the company's current global workforce of 86,000.