Nokia to axe up to 14,000 jobs after 20% sales drop in Q3

Nokia to axe up to 14,000 jobs after 20% sales drop in Q3

The Nokia headquarters is seen in Espoo, Finland | REUTERS/Mikko Stig/Lethikuva

Finnish telecom gear group Nokia said on Thursday it would cut up to 14,000 jobs in a new cost reduction effort after third-quarter sales fell by a fifth, taken down by sales of next-generation 5G equipment.