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December 1, 2022
BUSINESS

Nokia to move central Europe HQ to Hungary from Austria

Finland’s Nokia Corp. will relocate its Central European headquarters to Budapest from Vienna, Austrian daily Die Presse reported, citing a spokeswoman for Nokia Austria, Mo­ney.ro informs. The Austrian head­quarters employs 60 people, some of whom will be employed in Budapest – “Those who the firm can persuade to move,” the spokeswo­man, Alma Mautner, told the daily. The relocation comes as the company seeks to streamline its operations and return to profit after a string of losses amid falling market share in the mobile-phone market. Nokia has been cutting headcount globally since 2011, with the aim of eliminating 17,000 jobs. It has laid off 2,300 of 4,400 staff at its Hungarian plant.

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