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.
HMD Global Raises $100M to Expand Nokia Phone Business
HMD Global today said it has raised $100 million in funding in order to help the company grow. HMD Global is the sole licensee of the Nokia brand and makes and sells Nokia-branded phones that run Google's Android operating system.
Intel to Trim 12,000 Employees and Refocus Chip Biz
Intel today announced a major shakeup for its business over the next 18 months. The company said it plans to focus on data centers and the Internet of Things moving forward, which are Intel's fastest growing revenue sources.
Microsoft to Slash 7,800 Jobs, Restructure Phone Biz
Microsoft today announced significant job cuts and plans to restructure its mobile phone business unit. The company will eliminate 7,800 jobs, mostly from its phone business, and streamline its portfolio of smartphones.
HTC to Trim Workforce by 15%
HTC announced that it will take several cost-cutting measures, including the elimination of jobs. HTC plans to cut about 2,250 employees, or 15% of its headcount by the end of the year, in order save money.
Yahoo Expected to Announce Restructuring
Yahoo will unveil a plan to cut costs on Tuesday, reports the Wall Street Journal, which will include closing select business units and further trimming its workforce. Yahoo CEO Marissa Meyer and CFO Ken Goldman will discuss the plans after announcing the company's fourth quarter results.
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