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Nokia Siemens Network to dismiss 9,000 employees

Posted: 08 May 2007 ?? ?Print Version ?Bookmark and Share

Keywords:Nokia Siemens Networks? employee lay off? NSN job cut?

Nokia Siemens Networks, which started operations last month, announced plans to lay off approximately 9,000 employees worldwide. This is in line with a previous announcement by Nokia and Siemens in June 2006 that the company will adjust headcount by 10-15 percent over a four-year period from an initial base of approximately 60,000 staff.

The lay off will involve 2,900 jobs in Germany and up to 1,700 in Finland, said the company. The move is expected to offer the company an annual savings of about $2 billion by end of 2010.

"This is a necessary step to build a Nokia Siemens Networks able to compete now and in the future," said Simon Beresford-Wylie, CEO of Nokia Siemens Networks. "It is our responsibility to create a winning company that can provide strong future opportunities for employees, adequate returns for our shareholders, and cost-competitive products, services and solutions for our customers."

Adds Christoph Caselitz, chief market officer of Nokia Siemens Networks, "While we have a great opportunity now that we are Nokia Siemens Networks, we also have to face the reality of the market. Many of our customers are facing intense cost pressure, relentless competition, and new business models."

The group said some of the planned reductions will be in the form of the transfer of personnel to R&D, manufacturing and other partners of Nokia Siemens Networks.

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