Nokia is cutting 2,000 jobs in China, and how this ‘Huawei ban’ may be the reason

Nokia has reportedly laid off 2,000 employees or about a fifth of its employee base across Greater China. The move is part of efforts to lower costs as the Finnish company struggles with a sluggish telecom equipment market, reports Reuters citing a person familiar with the matter. In addition, the company is planning to cut 350 jobs in Europe.
According to the company’s annual report, as of December 2023, Nokia had 10,400 employees and 37,400 employees in Greater China and in Europe, respectively.