Nokia Siemens plans to cut 2,000 jobs in India
Nokia Siemens Networks is planning to trim nearly 2,000 employees, or 20% of its direct workforce in India as part of a global restructuring exercise aimed at cutting losses. The company had last week claimed that it intends to cut 17,000 jobs globally.
These planned reductions are expected to be driven by aligning the company's workforce with its new strategy as well as through a range of productivity and efficiency measures. Nokia Siemens Networks is said to begin the process of engaging with employee representatives in accordance with country-specific legal requirements to find socially responsible means to address these reduction needs. In order to reduce the impact of the planned reductions, Nokia Siemens Networks intends to launch locally led programs at the most affected sites to provide re-training and re-employment support.
Nokia Siemens Networks targets to reduce its non-IFRS annualized operating expenses and production overheads by EUR 1 billion by the end of 2013, compared to the end of 2011. While these savings are expected to come largely from organizational streamlining, the company is also supposed to target areas such as real estate, information technology, product and service procurement costs, overall general and administrative expenses, and a significant reduction of suppliers in order to further lower costs and improve quality.
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