Nokia Siemens Networks on Tuesday announced its plan to lay off 1,250 employees in two European countries including Germany and Finland in an attempt to cut costs in this looming global economic slowdown.
According to the company, a total of 750 workers will be affected, most of them are from Finish cities including Oulu, Espoo, and Tampere, while another 500 employees in Munich, Germany will be laid off.
This mobile phone giant is a joint venture between two companies, Siemens AG and Nokia Corporation which had merged two years ago.
As soon as these two companies announced its joint enterprise, high ranking officials have made it plans to carry out almost 9,000 job cuts to cut operational costs. According to a source, the company has already laid off a total of 6,000 employees which means that there will be still job cuts that can reach up to 3,000.
In May 2008, the job reduction was first started in its office in German. According to the report, almost 2,300 people lost their jobs. Meanwhile, the company’s high ranking officials expressed their plans to further reduce the workforce which is part of their contingency plans to survive in this challenging economic condition where even big industries are trembling from its feet with the impact of financial slowdown.
Officials of the company also revealed their plan to sell its manufacturing site located in Durach, Germany to another business entity. To allay worries of almost 500 staff, officials said that they will not be laid off but instead transferred to another company.
Meanwhile, the company also expressed its plan to reduce its workforce in some countries including United States and Egypt, which will come only in small number compared to Germany and Finland.
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