Nokia Siemens Networks to Slash 17,000 Jobs Amid Re-Org
Nokia Siemens Networks today said that it is restructuring its business to better focus on the mobile broadband and services markets. As part of the broad reorganization, NSN plans to cut 17,000 employees from its global workforce by the end of 2013. Nokia Siemens has about 74,000 employees today, and the cuts amount to a massive 23% of its total employee base. In order to accomplish this workforce reduction, NSN said it will consolidate facilities and functions, simplify processes, eliminate the company's matrix organizational structure, as well as realize certain synergies with the acquisition of Motorola networking business and technology. "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," said Rajeev Suri, CEO of Nokia Siemens Networks in a prepared statement. "At the same time, we need to take the necessary steps to maintain long term competitiveness and improve profitability in a challenging telecommunications market." Nokia Siemens Networks' parent companies, Nokia and Siemens, have struggled with defining their joint venture's future, which is set to expire in 2013. They tried unsuccessfully to sell it to investors and abandoned those plans earlier this year.
Nokia Gains Control of Alcatel-Lucent
Nokia today said it has officially taken the reigns of Alcatel-Lucent after its public exchange offer for Alcatel-Lucent was accepted by the French stock market authority. Nokia expects to merge the two companies in order to form a telecommunications powerhouse to compete against Ericsson, ZTE, and others.
Lenovo Announces Layoffs, Remains 'Committed' to Motorola
Lenovo today announced a workforce reduction that will see close to 2% of the company's 55,000 employees losing their jobs. Most of the more-than-1,000 cuts impact Lenovo-owned Motorola.
Nokia Dishes More On Possible Phone Plans
Nokia CEO Rajeev Suri today reiterated that the company would like to return to the phone business, but said it is in no rush. Speaking at the Mobile World Congress trade show, Suri noted that Nokia will not manufacture its own handsets, but will instead license its brand to an outside manufacturer.
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.