https://phys.org/news/2018-10-nokia-5g-network-demand.html

Nokia announced a cost-cutting program aiming for annual savings of 700 million euros by the end of 2020. It didn't provide details on the expected global job cuts.

"Our industry is one where a constant focus on costs is essential," Nokia CEO Rajeev Suri said. "The plan we are announcing today is the logical step to take as the completion of our Alcatel-Lucent-related cost saving program draws near."