Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Nokia Siemens is to undergo discussions to cut up to 120 jobs in Finland as the latest in a series of efforts to reduce costs.
The Finnish-German mobile phone maker's Finnish Director Pekka Soini said: "The need for staff reductions stems mainly from our need to adjust operations to the economic environment and market situation in order to secure our competitiveness in the long run," Pekka Soini,
The cuts are likely to take place across the Espoo, Oulu and Raahe units. Just a month ago the group announced a plan to cut 450 jobs in Finland but these cuts come on top of those.
Nokia Siemens has been aiming to cut up to 5,800 jobs worldwide since last November in a bid to improve its financial performance and reduce annual costs by €500 million by the end of 2011.
Eurofound (2010), Nokia Siemens, Internal restructuring in Finland, factsheet number 70538, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70538.