Nokia Siemens to slash 1,820 jobs

Wednesday, November 12, 2008 at 4:11 am

Telecommunications solution provider Nokia Siemens Networks on Tuesday (November 11) said that it will slash around 1,800 jobs mostly in Finland and Germany as part of its restructuring efforts. The entity is a 50:50 joint venture of Finnish cell phone maker Nokia and German firm Siemens.

The firm plans to cut about 750 jobs in Finland. The company would also be closing down its Hofmannstrasse site in Munich, Germany, which would affect nearly 500 employees, the company said in a statement. The company also announced separately an agreement for its manufacturing site in Durach, Germany, to be purchased in a management buy-out, led by the current leadership of the facility.

“That agreement will result in the transfer of around 500 employees. At the completion of the planned headcount restructuring and employee transfer activities, Nokia Siemens Networks expects to have in the range of 10,000 employees in Germany, from an initial base of approximately 13, 000,” the statement noted.

In addition, the company has planned reduction of headcount by about 50 in Egypt and by 20 in the United States. “From the very start Nokia Siemens Networks has focused on building a strong, competitive company and these planned actions are an important step to help us reach that goal,” Chief Executive Officer of Nokia Siemens Networks’ Simon Beresford-Wylie said.

“With the successful completion of these plans, we will have the vast majority of the synergy-related headcount reductions completed and we can then start to put this chapter of our history behind us and focus on creating a world-class company,” Beresford-Wylie added.

(With inputs from agencies)

( This post is from an independent writer. The opinions and views expressed herein are those of the author and are not endorsed by APakistanNews.Com.)

Nokia Siemens to slash 1,820 jobs

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