Nokia to cut most of China workforce by year end, report says

Investing.com -- Nokia plans to eliminate most of its workforce in mainland China and close facilities in stages by the end of 2026, the South China Morning Post reported Tuesday, citing sources familiar with the matter.

The Finnish telecom equipment maker confirmed it has been taking steps to better align its operations in China with its global operations. A Nokia spokesperson said the company's China business has steadily declined in recent years.

"Thus, we are adjusting our operational footprint in China to address this reality," the spokesperson said in an email.

The company had previously communicated that it was making changes to its China operations, the spokesperson added.

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