Telecommunications solution provider Nokia Siemens Networks said it will slash around 1,800 jobs as part of its restructuring efforts. The company is a 50:50 joint venture of Finnish cell phone maker Nokia and German firm Siemens.
Nokia Siemens plans to cut about 750 jobs in Finland. It will also close its Hofmannstrasse site in Munich, Germany, which will affect nearly 500 employees.
The company separately announced an agreement whereby its manufacturing site in Durach, Germany, will be purchased in a management buy-out. 'That agreement will result in the transfer of around 500 employees. At the completion of the planned headcount restructuring and employee transfer activities, Nokia Siemens Networks expects to have in the range of 10,000 employees in Germany, from an initial base of approximately 13,000,' the statement noted.
In addition, the company has planned reduction of headcount by about 50 in Egypt and by 20 in the United States.
Image: A construction worker walks past a building housing Finnish-German company Nokia Siemens Networks in Dubai; the office is on the 27th floor. | Photograph: Karim Sahib/AFP/Getty Images)
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