Nokia Siemens Networks to cut 17,000 jobs
Global restructure to focus on mobile broadband aims to save one billion euros
Nokia Siemens Networks (NSN) has announced plans to cut 17,000 jobs as part of a major restructuring.
The Finnish company will shed the jobs from its global workforce by the end of 2013. NSN is aiming to reduce operating expenses and overhead by one billion euros in the same time frame.
According to a company statement, NSN plans to focus on mobile broadband and services.
"We believe that the future of our industry is in mobile broadband and services - and we aim to be an undisputed leader in these areas," said Rajeev Suri, chief executive officer of Nokia Siemens Networks. "At the same time, we need to take the necessary steps to maintain long term competitiveness and improve profitability in a challenging telecommunications market."
The company is looking to make savings from ‘organizational streamlining', as well as savings in other areas including real estate, information technology, product and service procurement costs, overall general and administrative expenses, and a reduction of suppliers.