Nokia Siemens To Lay Off 17,000 Worldwide

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Nokia Siemens planned layoffsBy Matti Huuhtanen


HELSINKI (AP) -- Nokia Siemens Networks is slashing 17,000 jobs worldwide by 2013 as it strives to cut costs by euro1 billion ($1.35 billion).

The mobile infrastructure company said Wednesday the measures are part of "an extensive global restructuring program," which includes streamlining the organization to improve long-term competitiveness and profitability.

The Finnish-German joint venture said they will also include "a significant reduction of suppliers."

Nokia Siemens Networks CEO Rajeev Suri said the company will focus on mobile network infrastructure and services market.

"We believe that the future of our industry is in mobile broadband and services. We aim to be an undisputed leader in these areas," Suri said. "At the same time, we need to take the necessary steps to maintain long term competitiveness and improve profitability in a challenging telecommunications market."

He described the planned layoffs as regrettable but necessary.

"As we look towards the prospect of an independent future, we need to take action now to improve our profitability and cash generation," Suri said.

Nokia Siemens, which has been struggling against rival network companies in recent years, is a 50-50 joint venture between Finland's Nokia Corp. and Germany's Siemens AG.



Next: How Much Do Service Professionals Really Rely On Your Tips?



Don't Miss: Companies Hiring Now



Stories from Daily Finance


AP

Editor

© 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

Add a Comment

*0 / 3000 Character Maximum

69 Comments

Filter by:
susan

And who ever said the economy was on a up-swing needs to remove the blinders...

November 28 2011 at 3:50 AM Report abuse rate up rate down Reply
arcangelms

I hope they start the cuts from the top as an example for the rest of the company. The executive level are where the higher salaries are and they are the one's who have been making the bad business decision , which as resulted in the need to layoff 17,000 people.

November 28 2011 at 1:36 AM Report abuse rate up rate down Reply
calderasf

THIS IS NOT AN AMERICAN COMPANY? WHY IS IT OUR FAULT OR OBAMA'S? THEY HAVE FALLEN BEHIND IN SMART PHONES.

November 28 2011 at 1:04 AM Report abuse rate up rate down Reply
calderasf

Apple is eating them for lunch.

November 28 2011 at 1:02 AM Report abuse rate up rate down Reply
Tom

Charge huge taxes to ship products to America. those tarriff will make it cheaper to come back to America and make those products. Whats the hard part of that . If you work on a gov Job the Contracting company has to pay prevailing wage so figure out the diff and charge that to ship products back jobs created and we spend millions trying to figure it out.

November 27 2011 at 11:24 PM Report abuse rate up rate down Reply
1 reply to Tom's comment
cmcclarty

They will just pass the cost on to the buyer.

November 28 2011 at 3:41 AM Report abuse rate up rate down Reply
AL CONFER

American fools. The Chinese are laughing all the way to the bank. Look at what you are buying and all is made in China, India, Korea etc. Your NOT creating any jobs in America so why are these fools bailing out the Chinese, India, or Korea etc? Sometimes I think Americans are the dumbest in the world. Wait unti, January and see how many jobs are let go. Honestly, what is it going to take before Americans wake to hell up?

November 27 2011 at 10:41 PM Report abuse rate up rate down Reply
2 replies to AL CONFER's comment
jlp1858

Gotta remember, all OUR companies are over there, they all left here for the bigger bucks. We used to only buy USA made items, can't find any now. The ones complaining the most are the ones buying Hondas, don't feel sorry for them, they slit their own throats.

November 27 2011 at 11:12 PM Report abuse rate up rate down Reply
rini1946

your right these year instead of buying imports for presents buy gift certificates from groupon or some other internet site that give you a discount. And give out the certificates for haircuts, golfing, a restraunt, a spa treatment any thing that keep the money here and puts our people to work

November 28 2011 at 6:08 AM Report abuse rate up rate down Reply
crazybobmt

hi the corporate entities can and do move our jobs overseas , try finding american made goods . even toilet paper is made in china, these corporations are more concerned with$$$ and stockholders then people n lives . and the same with all of them..their lobbyists and cash payoffs to politisians (sorry for spelling )are ruining the entire planet even this computer i'm on has absolutely no american parts not even one screw

November 27 2011 at 9:45 PM Report abuse rate up rate down Reply
1 reply to crazybobmt's comment
rini1946

I sorry but you can not blame the corporations. It is us that went to the store (this is been going on for a while) and said hey here is an import we can get it for 20cents less lets buy it. Now if you were a corporationwhat would you do build more stuff here and watch your company go broke or move you company out of the US and to make cheaper products that americans will buy

November 28 2011 at 6:12 AM Report abuse rate up rate down Reply
cmax383666

obama is doing a good job,problem is he is not sure what what job he was hired for.

November 27 2011 at 9:41 PM Report abuse rate up rate down Reply
1 reply to cmax383666's comment
jlp1858

He was hired to fix way too many problems for one man. Got health care passed, made some jobs and tried to get other things passed, but you know what happened to that. Can't wait till the next election, hope people wake up by then. He doesn't need to debate Repubs, they're doing a good job of slitting their own throats. Course, if all you worry about are illegals, abortions and helping big business kill us all with deregulating, they're a shoe in.

November 27 2011 at 11:10 PM Report abuse rate up rate down Reply
1 reply to jlp1858's comment
RevWarHeroPFrancisco

The only Jobs Oblamer is worried about is the ones he created in his Barackracy of MISERY.

Judges, Credit Ratings & Bureaus, O Q Pi, FLEA PARTY, TEA PARTY, Liberals, Republican­s, Conservati­ves, etc THEY ALL FAIL... Ever Progressiv­e FAILURES.

There is only one solution, RISING IN REPUBLIC. The lawful, peaceful, honorable & constituti­onal REPUBLIC.
REPUBLIC RISING ~ SLAVERY DEMOCRACY DEMISING
“… and to the Republic for which it stands…” is not just a slogan!
Wake Up, Stand Up – Opt Out & Join In – we’re National & in every FREE state. http://www­.RepublicF­orTheunite­dStates.or­g/

November 27 2011 at 11:44 PM Report abuse rate up rate down
alamaden

I blame bush and Obama's fake birth certificates that he keeps seeming to find when the pressure is on... doesnt matter cause they are still all fake certificates....

November 27 2011 at 8:51 PM Report abuse rate up rate down Reply
Hero or Zero

why blame politicians? they are human just like we are. They don't know any solution. This economy is way out of our control. Only thing we can do is get use to it. Adjust to it... nothing stays the same anyway. USA and rest of the world have to crumble down sometimes.

November 27 2011 at 7:27 PM Report abuse -3 rate up rate down Reply
2 replies to Hero or Zero's comment
ejjljjr

Aren't we just basket full of sunshine! Have you been hiding under the covers? We blame politicians because they claim they can fix it and can't! They only want what they can get for themselves before they retire. Republican and Democrats alike. You sound like a failure. "Get use to it. Adjust to it..." Yeah! Just quit! That sounds easy for you!

November 27 2011 at 7:49 PM Report abuse +2 rate up rate down Reply
B

Wow...how empty is your glass. I don't blame you it is a hard world out there...but thinking positively may keep your blood pressure down!

November 27 2011 at 10:49 PM Report abuse rate up rate down Reply

Search Jobs

In Partnership With
Keywords:
Location:

Search Articles

Top Companies Hiring

April 13 - April 20

Looking for work? See what companies added new openings this week.