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Nokia Siemens to cut 17,000 jobs

Nokia Siemens to cut 17,000 jobs

The struggling telecoms equipment maker Nokia Siemens Networks is cutting 17,000 jobs, 23% of its workforce.

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The cuts from its 74,000-strong workforce should help reduce costs by some 1bn euros ($1.35bn; £860m), the company said in a statement.

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Viagra Meaning In Arabic The loss-making venture, owned by Finland’s Nokia and Germany’s Siemens, has faced stiff competition from rivals such as Huawei and Ericsson.

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Best Uk Essay Writing Services The owners are considering listing the venture as a separate company.

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Leadership Dissertation Topics “This is a big move. I believe the goal is an Initial Public Offering [flotation]. That cannot be done with the current structure and operation models,” said Jari Honko, an analyst at Swedbank. Pay Some One To Write A Analysis Text Essay

Nokia Siemens chief executive Rajeev Suri described the planned layoffs as “regrettable but necessary”.

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Difference Between A Dissertation And A Thesis “As we look towards the prospect of an independent future, we need to take action now to improve our profitability and cash generation,” Mr Suri said.

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Read More/Source: BBC News

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