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Nokia Siemens Network cuts headcount

Posted: 08 May 2007     Print Version  Bookmark and Share

Keywords:Nokia Siemens Networks  employee lay off  NSN job cut 

In line with a previous announcement of headcount reduction by 10-15 per cent from about 60,000 over a four-year period, Nokia Siemens Networks announced plans to lay off approximately 9,000 employees worldwide.

The company that started operations last month said the lay off will involve 2,900 jobs in Germany and up to 1,700 in Finland. The move is expected to offer the company an annual savings of about Rs.8,453.96 crore ($2 billion) by end of 2010.

"This is a necessary step to build a Nokia Siemens Networks able to compete now and in the future," said Simon Beresford-Wylie, CEO of Nokia Siemens Networks. "It is our responsibility to create a winning company that can provide strong future opportunities for employees, adequate returns for our shareholders, and cost-competitive products, services and solutions for our customers."

Adds Christoph Caselitz, chief market officer of Nokia Siemens Networks, "While we have a great opportunity now that we are Nokia Siemens Networks, we also have to face the reality of the market. Many of our customers are facing intense cost pressure, relentless competition, and new business models."

The group said some of the planned reductions will be in the form of the transfer of personnel to R&D, manufacturing and other partners of Nokia Siemens Networks.

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