Nokia Siemens reportedly plans 1,200-1,300 job cuts in Finland
Finnish-German network equipment vendor Nokia Siemens Networks plans to cut between 1,200 and 1,300 jobs in Finland as part of a massive restructuring effort announced in November, Finnish broadsheet Helsingin Sanomat reported Saturday, citing anonymous sources.
Nokia Siemens will provide details about talks with its employees this week, the newspaper reported.
Rajeev Suri, chief executive of the joint venture, owned by Nokia Corp. and Siemens AG, in November said the company will cut 17,000 jobs globally, or 23% of its current workforce of 74,000, by the end of 2013, and restructure its business in a last-ditch effort to reach profitability and position itself for independence.
The company also doubled its target to reach EUR1 billion in annual cost savings by 2013.
NSN declined to comment.
Source: Total Telecom
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