14 DAY TRIAL // After numerous Nokia-related mass layoffs, it turns out that Nokia Siemens Networks is now forced to cut no less than 17,000 jobs as part of its global restructuring plan.
The company explains its desire to realign its business by initiating this global restructuring program and states that it will try “to focus on mobile broadband (including optical), customer experience management and services.”
Although rumors about Nokia Siemens Networks’ negative financial balance surface almost monthly, the announcement comes a shocker given the magnitude of the layoff.
According to Nokia Siemens Networks, the company plans global workforce reduction of approximately 17,000, as well as a reduction of operating expenses by the end of 2013.
“We believe that the future of our industry is in mobile broadband and services - and we aim to be an undisputed leader in these areas. At the same time, we need to take the necessary steps to maintain long term competitiveness and improve profitability in a challenging telecommunications market,” said Rajeev Suri, chief executive officer of Nokia Siemens Networks.
The company’s future plans include re-training and re-employment support for those who will be fired in the next two years. Obviously, Nokia Siemens Networks will negotiate with employee representatives according to each country’s specific legal environment, in an attempt to find the best possible solution to address these reduction needs.
There are no other details in regards with the countries that will be affected by this mass layoff, but the company promised that additional info will be shared in impacted countries in due time.
“As we look towards the prospect of an independent future, we need to take action now to improve our profitability and cash generation. 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” concluded Suri.