Nokia Siemens Networks Plans Major Re-Org
Nokia Siemens Networks today announced a major restructuring that it hopes will help save the company about $740 million per year by 2011. The company is re-organizing its five business units into three, which will be: Business Solutions, Network Systems, and Global Services. The company also plans a significant workforce reduction, and it will trim its 64,000 employees down by 7% - 9% (between 4,500 and 5,800 employees). The company will target other areas to reduce costs, including real estate, IT and site optimization. Nokia Siemens Networks will also closely examine acquisitions and partnerships as a way to expand its portfolio of services.
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