Feeds

Nokia Siemens Networks chucks 17,000 people overboard

Lightening ship ahead of IPO

Internet Security Threat Report 2014

Ailing telco kit manufacturer Nokia Siemens Networks (NSN) is to slash 17,000 jobs worldwide by the end of 2013 as it eyes up an IPO.

This equates to a 23 per cent drop in the workforce which along with rationalisation of real estate, targeted budget cuts in IT, product and service procurement and admin costs are expected to reduce overheads by €1bn.

“As we look towards the prospect of an independent future, we need to take action now to improve our profitability and cash generation,” said Rajeev Suri, CEO at NSN.

“These planned reductions are regrettable but necessary – and it is our goal to make them in a fair and responsible way, providing the support we can to employees and communities.”

The firm, which saw a 16 per cent rise in sales to €3.4bn (£2.9bn) in its last trading update, revealed today it is to make a play for "end-to-end mobile network infrastructures and services" with a particular slant on mobile broadband.

As a result, any areas of the business deemed peripheral to the strategy will be "divested or managed for value", NSN said.

The company has started consultation with staff in line with country-specific laws with locally led programmes aimed at the areas of the business that will be hit hardest by the massive restructure. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
prev story

Whitepapers

Driving business with continuous operational intelligence
Introducing an innovative approach offered by ExtraHop for producing continuous operational intelligence.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Internet Security Threat Report 2014
An overview and analysis of the year in global threat activity: identify, analyze, and provide commentary on emerging trends in the dynamic threat landscape.