Finnish telecom gear group Nokia has announced plans to cut up to 14,000 jobs after third-quarter sales decrease by a fifth. The company faced slowing demand for 5G equipment, primarily in the United States. Nokia and its competitor Ericsson have attempted to counter this trend by focusing on sales in India, a low-margin market. Nokia is targeting savings between 800 million euros and 1.2 billion euros by 2026 in a cost reduction effort. The program will potentially reduce the company’s employee count from 86,000 to 72,000-77,000.