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Update: Nokia Siemens Networks cuts 17,000 jobs

Leo King | Nov. 24, 2011
Nokia Siemens Networks is set to cut 17,000 staff around the world.

Besides savings from staff cuts, Nokia Siemens will also target areas such as real estate, information technology, product and service procurement costs, overall general and administrative expenses, and aim for a significant reduction of suppliers in order to further lower costs and improve quality, the company said.

"What we are seeing now is a genuine attempt to turn it into a single company with no overlapping functions," said Newman, who also hopes Nokia Siemens has a clear idea of where it is going to make cuts, so it doesn't turn into a drawn-out process that drags the company down.

Nokia Siemens will now begin talks with employee representatives in accordance with country-specific legal requirements.

Additional reporting by Mikael Rickns, IDG News Service


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