Nokia to cut 353 jobs in Finland

The Nokia logo is seen at the Mobile World Congress in Barcelona, Spain, February 28, 2018. REUTERS/Sergio Perez

HELSINKI (Reuters) - Nokia said on Thursday it had decided to cut 353 jobs in its home market Finland this year due to a weak global network market and as part of its global cost-savings plan.

The figure came down from the company’s initial plan to reduce up to 425 jobs.

Under the finalised plan, 283 of the positions will be cut from the company’s mainstay networks business and 70 from its Technologies unit, which includes Nokia’s licensing operations and digital health business.

Globally, Nokia is looking to save 1.2 billion euros ($1.5 billion) annually following its 2016 acquisition of Alcatel-Lucent and a weak network equipment market has encouraged it to step up measures.

Nokia currently employs 6,300 people in Finland and around 102,800 globally.

Reporting by Jussi Rosendahl; editing by Niklas Pollard