Nokia Siemens plans thousands of layoffs
Published: 03 Nov 2009 14:40 GMT
Nokia Siemens Networks could lay off more than 4,500 of its workers as part of a cost-cutting drive.
The networking firm announced the cuts on Tuesday, alongside its plans to reorganise the company's business units.
Nokia Siemens Networks (NSN) is aiming for annualised operating expenditure and overhead cost reductions of around €500m (£449m) by 2011. As part of this drive, it said in a statement, it is conducting a "global personnel review which may lead to headcount reductions in the range of about 7-9 percent of its current approximately 64,000 employees".
Such cuts would involve between 4,480 and 5,760 people being laid off. NSN has declined to detail the impact on specific countries until the review has "progressed." The networking company employs around 1,000 people in the UK.
NSN was set up as a joint venture between Nokia and Siemens in February 2007. Nokia's most recent quarterly results, released in October, showed that NSN had lost €1.1bn in one quarter.
The company's main business in the UK is in managed network services. It operates Orange's mobile network, as well as T-Mobile and 3's joint 3G network.
Its British employees include those brought in when NSN bought Apertio, which manages customer data for mobile operators, in early 2008.
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