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 Confirms Talks to Acquire Alcatel-Lucent
Nokia and Alcatel-Lucent today said they are in advanced talks concerning a merger or acquisition between the two. Such a deal would would produce a massive competitor to Sweden's Ericsson and China's Huawei in the telecommunications market.
Nokia Networks to Buy Panasonic's Base Station Biz
Nokia Networks today announced that it has agreed to purchase select portions of Panasonic's wireless business. Specifically, the company will buy Panasonic's mobile phone wireless base station and related wireless equipment system businesses.
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.
Nokia Names New CEO, New Strategy
Nokia's board of directors have elected Rajeev Suri to the position of President and CEO of Nokia. Suri, who has been with Nokia since 1995 and has led its network business from 2009, will take his new role on May 1.