Nokia Siemens Cutting 9,000 Jobs Globally

As part of a previously announced planned reduction of its initial workforce, the company is cutting 15 percent of its current employees.

ESPOO, Finland - Nokia Siemens Networks announced Friday that it plans to strengthen its position in the communications industry by reducing its workforce.

The company is beginning its cuts in Finland and Germany, with 700 cuts planned for Finland. The company expects 1,500-1,700 jobs to be affected in Finland by 2010. Approximately 2,800-2,900 jobs are expected to be cut in Germany by 2010.

The same process will be implemented in other countries within the next few months.

“This is a necessary step to build a Nokia Siemens Networks able to compete now and in the future,” said Simon Beresford-Wylie, CEO, Nokia Siemens Networks. “I know that the planned actions announced today will be difficult for some, but it is our responsibility to create a winning company that can provide strong future opportunities for employees, adequate returns for our shareholders, and cost-competitive products, services and solutions for our customers. While we are a global company, with more than sixty percent of our employees already outside of Finland and Germany, both Finland and Germany will continue to be major centers of employment for Nokia Siemens Networks.”

On June 19, 2006, Nokia and Siemens announced that a workforce reduction of 10 to 15 percent was planned over a four year period from the initial workforce of 60,000.

The company said reductions are in response to market conditions, including proposed changes to the product portfolio, site optimization and streamlining of various functions, among other factors.

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