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Nokia to cut fourth of workers from Nokia Siemens Networks - 17 000 to go
Wednesday, 23 November 2011
Nokia Siemens Networks plans to cut 17,000 employees worldwide. The reductions must be made before the end of 2013.
The company has a total of around 74,000 employees. Nokia shares were up one percent just after half past one on the Stockholm Stock Exchange. Ericsson went in the opposite direction and fell by 0.1 percent.
Nokia Siemens Networks will also review the Group's property holdings, IT systems and administrative costs.

An important part of the rationalization program is to reduce the number of subcontractors, who in addition to lower costs is expected to lead to quality improvements, according to a press release from Nokia.


Nokia intends to within the confines of savings program to invest in a global delivery centres that will support more coordination and integration.

Most of the cuts will be through down sizing the organization. But Nokia management is also aiming to lower office costs and IT costs, reduced administrative costs and fewer suppliers.

To slim down the workforce by 17,000 people will be achieved through, inter alia, plant mergers, organizational changes and relocation of activities to the global distribution centres.

The company promises to implement cuts in a socially responsible manner. In the towns hardest hit those who are made redundant will be offered training. The company will also help them find new jobs.
By Scancomark.se Team

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