Nokia Siemens Networks Cuts Employees In Greater China AgainAugust 8, 2012 | Print | Comments | Category: Business, Telecom & Wireless
Nokia Siemens Networks Greater China has released an official layoff announcement to cut about 320 positions in customer operation, product, and functional departments.
According to reports in Chinese local media, this is reportedly the second layoff plan announced by Nokia Siemens Networks in China.
At the end of 2011, Nokia Siemens Networks announced that it planned to reduce its operating expenditure and production related costs by EUR1 billion before the end of 2013, so as to reverse its loss-making situation. To achieve this goal, the company said it would cut 17,000 employees worldwide before the end of 2013. Meanwhile, the company would shift its focus to mobile broadband and services while implementing large restructuring across the world.
As a part of the global layoff and restructuring of Nokia Siemens Networks, the company will cut 320 positions in Greater China this time. Prior to this, Nokia Siemens Networks already announced a layoff plan in China in March 2012, involving 350 employees.
Due to the global economic downturn, the overall demand in the telecommunication equipment market was weak and many telecommunication equipment makers reported unsatisfied performance. During the first half of 2012, Ericsson, ZTE, and Huawei saw profit decline; while Nokia Siemens Networks and Alcatel-Lucent faced operating losses.
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