Nokia Siemens Networks would like you to know that it “puts mobile broadband and services at the heart of its strategy”, and to demonstrate this they plan to fire roughly 17,000 people worldwide before the end of 2013 as part of ‘an extensive global restructuring program’. Says Rajeev Suri, CEO of Nokia Siemens Networks:
“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. At the same time, we need to take the necessary steps to maintain long term competitiveness and improve profitability in a challenging telecommunications market.”
In other words, Nokia Siemens Network is apparently too much of a dog to be interesting to potential buyers. Nokia and Siemens have been trying to sell their network equipment joint venture, which was originally formed in 2007, for some time now (it sold a piece a few weeks ago).
The company says it plans to reduce its operating expenses and production overheads by 1 billion euros by the end of 2013, compared to the end of this year. Aside from laying off people, the company will also look at real estate and general expenses, as well as – ironically – IT spending.
Nokia Siemens Networks employed approximately 75,000 people as of September 30, 2011.
The full press release is available here.
Nokia Siemens Networks is one of the largest telecommunications solutions suppliers in the world. Nokia Siemens Networks was created as the result of a joint venture between Siemens AG’s COM division (minus its Enterprise business unit) and Nokia’s Network Business Group. The new company was announced on 19 June 2006. Nokia Siemens Networks was officially launched at the 3GSM World Congress in Barcelona in February 2007.
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