Finnish telecom gear group Nokia is set to cut up to 14,000 jobs in a cost reduction effort following a 20% decline in third-quarter sales. The decreased sales are attributed to reduced demand for 5G equipment in countries like the US. Nokia and rival Ericsson have been striving to offset this decline with higher sales to India, a low-margin market. Nokia’s cost-cutting program aims to save 800 million to 1.2 billion euros by 2026.