"Ensuring we have the right setup and capabilities is a necessary step to deliver sustainable long-term performance."
Nokia said the savings made through the restructuring would"offset increased investments in R&D, future capabilities and costs related to salary inflation".Once the world's biggest maker of mobile phones, Nokia was caught out by the rise of smartphones and eclipsed by the likes of Apple and Samsung. It sold its entire handset business to Microsoft in 2014 though held on to its phone patents and in 2016 struck a deal with another company, HMD Global, allowing themIt is increasing investments in 5G - the new generation of broadband technology, where it competes with Huawei, Ericsson and Samsung - as well as in cloud and digital infrastructure.
Mr Lundmark, who took over as boss last year, announced a new strategy in October under which Nokia is split into four business groups and will do"whatever it takes" to take the lead in 5G.