Nokia Siemens Networks is planning to cut its workforce by 17,000 worldwide by the end of 2013. The company says the cuts are connected to a strategic shift, in which it will refocus its efforts on wireless broadband, services and managing customer experiences.
Some 74,000 people currently work for NSN, with around 7,000 based in Finland. The company will announce the geographical distribution of the job cuts later on.
Nokia Siemens is aiming to cut operating expenditures by around a billion euros over two years. In a statement, the companyâ€™s Chief Executive Rajeev Suri called the job cuts â€˜regrettable but necessaryâ€™, and said the company would provide support for individuals and communities affected by the cuts, but defended the decision on economic grounds.
â€œWe need to take the necessary steps to maintain long term competitiveness and improve profitability in a challenging telecommunications market,â€ said Suri.
Nokia Siemens Networks is headquartered in Espoo.