Nokia Siemens Networks plans to reduce its global workforce by 17,000 jobs by the end of 2013 as part of a restructuring...
The telecoms equipment provider said the restructure will help cut operating and production overhead costs, saving €1bn by 2013. Nokia Siemens Networks will now focus on the mobile network infrastructure and services market, investing heavily in mobile broadband.
Rajeev Suri, CEO at Nokia Siemens Networks, said: “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."
The company also plans to streamline its use of IT and reduce the number of IT suppliers to cut costs and “improve quality”.
Nokia Siemens Networks held 13% of mobile carrier network infrastructure market share in 2010 worldwide behind Huawei and Ericsson.
The company, established in 2006, revealed plans to open a global operations centre in Brazil last year to support the firm's operations worldwide. The company completed its acquisition of the wireless network infrastructure equipment division of Motorola this year.