Remember back in November when Nokia Siemens Networks announced its 23% headcount haircut of 17,000? Well, apparently they weren’t kidding — especially if you happen to be in Germany. A Bloomberg report today says that the company will be laying off 2,900 employees in the country.
Given that they have 9,100 employees in Germany currently, that works out to a somewhat disproportionate 32% hit. NSN is trying to cut $1B in annual expenses in a massive restructuring effort, and perhaps Germany’s higher labor costs make it an easy target.
By contrast, two months ago it was reported that they would cut about 2,000 in India out of 10,000, or 20%. NSN will also be cutting 1,200 jobs in Finland out of 7,000 there, or 17%. Not that either is getting off easy, this is looking painful worldwide.
One wonders just what will be left of the company after this process is complete. It’ll take a while to play out, the restructuring is scheduled to be complete by the end of 2013.
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