Nokia to reduce Finnish workforce by 350 employees

Finnish telecom company Nokia is reportedly getting ready to cut 350 jobs in Finland as the company is looking to save about EUR 700 million by next year.

“The planned changes are indispensable to secure Nokia’s long-term competitiveness,” Tommi Uitto, head of the company’s Finnish operations, according to a Reuters report. Back in October Evertiq reported about the company’s plans to accelerate progress in its strategic growth areas, sharpen customer focus and significantly reduce costs – something that will result in layoffs. However, the company never disclosed how many employees this would impact. The savings programme will reportedly also affect other countries, however the timetable for this as well as the specific measures will vary depending on local legislation, according to a report from Finland's national public broadcasting company, Yle.

New York-based Comtech Telecommunications Corp. has issued a statement on the withdrawal of its business outlook for its fiscal year ending July 31, 2020, as well as an update on its proposed purchase of the Gilat Satellite Networks Ltd.

Xerox has issued a statement regarding its earlier proposal to buy HP Inc.

According to the latest investigations by the WitsView research division of TrendForce, the oversupply of TV panels in 2019 resulted in a major price drop. As such, panel manufacturers hoped to utilise their excess capacity in 2020 through increasing their production of monitor panels, with Samsung Display (SDC) having the most extensive plans.

PCB manufacturer MMAB’s factory in the south of Sweden recently got a new drilling area with updated machines.

The electronics industry is playing a major role in supporting increased requirements for critical medical devices during the current COVID-19 pandemic. And with that an increase in demand of the building blocks is to be expected.

Growing demand, new customers and an increase in business within knowledge intensive industries, has reinforced the need for another Country Manager in Poland, a new Technical Manager and an additional resource in the Customer Service Department.

Etteplan initiated co-operation negotiations on March 18th 2020 due to temporary changes in customer demand caused by the COVID-19 pandemic. Now, the negotiations have come to a complete.

Indian engineering and technology solutions company, Cyient, says it’s received clearance for its Mysore facility to run its MedTech manufacturing lines to support the production of medical equipment critical in the fight against COVID-19

Semi-automated production began today in Europe’s first gigafactory for commercial battery storage systems, located in Wittenberg, Germany.

Global semiconductor materials market revenues edged down 1.1% in 2019, SEMI reported in its Materials Market Data Subscription (MMDS).

Santa Clara, California-headquartered Cirexx International has released a statement penned by President and CEO Philipp Menges concerning status of operations during the coronavirus pandemic.

Abbott has been granted emergency use authorization (EUA) from the U.S. Food and Drug Administration (FDA) for a rapid molecular point-of-care test for the detection of novel coronavirus (COVID-19).