It is unclear where the bulk of the cuts will fall, but it said about 96 jobs in the United Kingdom (UK) were under threat as part of the €600m (£518m) cost cuts.

Nokia is playing catch-up on 5G, and also plans to invest in cloud computing and digital infrastructure research.

The company currently has 90,000 employees around the world, and has cut thousands of jobs since 2015.

“We currently expect the consultation process in the UK to cover an estimated 96 roles,” a Nokia spokesperson said.

“At this stage, however, these are only estimates. It is too early to comment in detail, as we have only just informed local works councils and expect the consultation processes to start shortly, where applicable.”

Last year, Nokia employed almost 40,000 people in Europe, 20,500 in the Asia-Pacific region, 13,700 in China, 12,000 in North America and 3,700 in Latin America.

In Finland, the company’s base, about 300 jobs are likely to go, mainly from its Helsinki headquarters, a union representative said.

France, where the company slashed more than 1,000 jobs last year, will be spared in the latest round of cuts.

Chief executive Pekka Lundmark said: “Decisions that may have a potential impact on our employees are never taken lightly. My priority is to ensure that everyone [that will be hit] is supported through this process.”

After taking the top job last year, Mr Lundmark has made changes after product missteps under the company’s previous management hurt Nokia’s 5G ambitions and dragged on its shares.

The restructuring is intended to boost Nokia’s performance against rivals such as Sweden’s Ericsson and China’s Huawei.

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Nokia was once the biggest handset manufacturer in the world, but it failed to anticipate the popularity of internet-enabled touchscreen phones such as Apple’s iPhone and Samsung’s Galaxy and was spectacularly knocked from its perch by rivals.

After selling its handset business to Microsoft, which the software giant later wrote off, Nokia concentrated on telecoms equipment. It also later went into a licensing deal for Nokia-branded handsets.

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During an all-hands meeting two weeks ago, CEO Dara Khosrowshahi revealed that he was finalizing layoff plans and employees would be notified within weeks.

One day later, 3,700 staffers were axed during a Zoom call led by the head of customer service, Ruffin Chaveleu.    

Globally, Uber employed 28,600 staffers – with 16,200 outside the US – as of March 31, according to its SEC quarterly filing on May 8. 

That latest firing accounted for 14 per cent of its workforce. 

If Uber is not discussing more layoffs at the moment, then the two week-period that Khosrowshahi cautioned about would be over. 

But sources close to Uber told Business Insider that this is not likely, especially if the acquisition of Grub Hub goes through. 

Earlier this month, Uber made an offer to buy the delivery service company. 

The move would consolidate the two companies and allow Uber to lean into the food delivery service to make up for financial loses amid the pandemic.

If this happens, Uber will be in a position to cut employees whose Uber Eats role overlaps with Grub Hub. 

Uber executives who attended the all-hands meeting reportedly discussed a severance package for sacked staffers, including 10 weeks of pay and health cure promised through 2020. 

Divisions expected to see cuts reportedly include the freight unit and the self-driving car unit, Advanced Technologies Group, the source said.

Lior Ron, head of the Freight unit, warned employees of possible layoffs, Business Insider reports.