Nokia Siemens to cut 17,000 jobs as part of global restructuring
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Nokia Siemens Networks has just announced plans to launch a global restructuring initiative that will result in the loss of about 17,000 jobs. "Nokia Siemens Networks plans to realign its business to focus on mobile broadband (including optical), customer experience management and services," the company said today. To achieve this, Nokia Siemens plans to reduce its operating expenses and overhead costs by about €1 billion, and its workforce by nearly a quarter -- both by the end of 2013. The company explained the job cuts thusly:
No word yet on which countries will receive the brunt of the blow, though the company says it will launch local re-training and re-employment programs in affected areas. Full press release after the break."These planned reductions are expected to be driven by aligning the company's workforce with its new strategy as well as through a range of productivity and efficiency measures. These planned measures are expected to include elimination of the company's matrix organizational structure, site consolidation, transfer of activities to global delivery centers, consolidation of certain central functions, cost synergies from the integration of Motorola's wireless assets, efficiencies in service operations, and company-wide process simplification."
Continue reading Nokia Siemens to cut 17,000 jobs as part of global restructuring
Nokia Siemens to cut 17,000 jobs as part of global restructuring originally appeared on Engadget on Wed, 23 Nov 2011 07:32:00 EDT. Please see our terms for use of feeds.
Permalink | | Email this | Comments Amar Toor 23 Nov, 2011--
Source: http://www.engadget.com/2011/11/23/nokia-siemens-to-cut-17-000-jobs-as-part-of-global-restructuring/
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