Nokia Siemens Networks announced it will cut about 1,500 jobs associated with the former Motorola Solutions unit it acquired this year. Some employees in the unit's GSM and WiMAX divisions--both in the U.S. and abroad--are being laid off, while others are having their jobs shifted elsewhere in the organization.
The Motorola Solutions buy added almost 7,000 jobs to NSN's payroll. Shortly after the deal closed in April, it became clear that NSN, which has struggled for most of its life since Nokia and Siemens formed the joint venture in 2007, was having trouble luring new investors. The financing problems have increased talk of a possible restructuring, and Standard & Poor's issued a report last month suggesting that NSN needed to slash its workforce to remain competitive.
For more:
- see this Bloomberg report
- read this International Business Times story
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NSN closed the Motorola Solutions acquisition in late April
S&P's James Cranshaw said NSN needed more job cuts