The Finnish Nokia and the German Siemens have announced the merger of the their telephone equipement and network businesses (excluding the cellphones) for the end of 2006. A 10 to 15% cut in workforce is to take place during the upcoming years. The union IG Metall talks about a « heavy strategic mistake ». (Ref 06625)
The new entity that stems from the grouping together of the telephone and network equipment businesses will be called Nokia Siemens Networ and will be the third in the sector (1st : Ericsson, 2nd : Alcatel/Lucent) with 16 billion euros as turnover. The company will hire 60.000 people, as much in Europ as worldwide. 12 000 German employees from Siemens are concerned by the merger. According the Nokia’s head, Olli-Pekki Kallasvuo, the restructuring should cost 1.5 billion euros and allow to cut i
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