(MENAFN) Tieto, a Finnish information technology service provider, announced is planning to lay off employees due to its key costumer Nokia's decision to reduce purchases of the company's research and development services, Xinhua reported.
Tieto said it is planning to cut 900 jobs around the world including 300 in Finland and 600 in Europe and Asia, because of the decline in company's business volumes in product development services after Nokia's decision, with jobs expected to be cut in phase during the next six months.
Tieto operates in approximately 20 countries and has a total of 14,000 employees in various parts of the world, with net sales amounting to USD2.02 billion.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.