NSN to cut 17,000 jobs to reduce annual operating costs

Nokia Siemens Networks (NSN) plans to cut 17,000 jobs to help reduce annual operating costs by around $1.35 billion.

This is owing to stiff competition from Ericsson and Chinese vendors.

In a statement, Rajeev Suri, chief executive officer, NSN said, “As we look towards the prospect of an independent future, we need to take action now to improve our profitability and cash generation.?

NSN now plans to focus on mobile broadband equipment and offering services to operators, while it aims to exit from several smaller businesses which are mostly related to fixed-line operations.