Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Following a meeting of the Social and Economic Committee, Nokia Network France announced 357 job cuts in the Paris region, a third of which will be in research and development, with the remainder in support functions. This new reduction in the workforce represents 17% of the workforce of the Nokia Network France subsidiary, which has 2,600 employees in the country, out of the 3,800 employed by Nokia in France.
The job cuts will take the form of a collective severance agreement ("rupture conventionnelle collective"), the terms of which will be negotiated with the trade unions.
Nokia has been hard hit by the slowdown in demand from operator customers. In 2023, the group's net profit fell by 84% and sales fell by 11% to 22.26 billion euros. The job cuts are part of a worldwide restructuring announced in October 2023 to cut between 9,000 and 14,000 positons Nokia 2023 - WO. In France, three former reorganisations were announced in the past: 871 job cuts in 2020 Nokia 2020 - FR, 408 job cuts in 2019 Nokia 2019 - FR and 597 job cuts in 2017 Nokia 2017 - FR.
Eurofound (2024), Nokia Network France, Internal restructuring in France, factsheet number 201137, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/201137.
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