Nokia Siemens to slash 17,000 jobs worldwide

The company will shift focus to mobile broadband and related services as it seeks to slash costs

Struggling network infrastructure vendor Nokia Siemens Networks is planning to cut 17,000 jobs worldwide, as it aims to cut €1 billion (US$1.35 billion) from its costs by the end of 2013, the company said Wednesday.

About 23 percent of the company's 74,000 employees will be laid off. The 4 1/2-year-old joint venture between Nokia and Siemens has been struggling to compete with Swedish Ericsson and Chinese vendor Huawei. Parent company Nokia's ongoing problems have made Nokia Siemens' situation even more difficult.

Going forward, the company will focus on mobile broadband and related services. Other areas like its wireline business will be sold or "managed for value," according to Nokia Siemens.

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.

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

(More to follow.)

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags broadbandbusiness issuesNetworkingtelecommunicationlayoffsNokia Siemens

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Mikael Ricknäs

IDG News Service
Show Comments

Essentials

Brother MFC-L3745CDW Colour Laser Multifunction

Learn more >

Mobile

Exec

Sony WH-1000XM4 Wireless Noise Cancelling Headphones

Learn more >

Budget

Back To Business Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?