Nokia Plans to Cut Off 8500 Jobs After The Recent Acquisition Of Siemens Network

Nokia Siemens Network

Nokia recently finalised the deal and bought all the shares from Siemens to become the sole owner of Nokia Siemens network. They have made the announcement of a new name for the network, the proposed name is Nokia Solutions and Networks(NSN).

The deal cost 1.7 billion Euro for Nokia, but considering NSN is the only profitable part of Nokia Group we can say this money is well spent.

Now that Nokia has the full access to the money from Siemens network a rumour has surfaced which hints about Nokia’s plans on cutting off around 8500 jobs as a part of ‘optimizations’ designed to boost profitability. Siemens currently employs 50,500 people across the world, and the current plan will result in a massive 17% cut. This is just a rumour as of now, but we won’t be surprised if this rumour becomes a reality.

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S0urce: Phone Arena

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