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Nokia Siemens Networks to Announce 1,000 Job Losses in Germany
Published on:
Nokia Siemens Networks is expected to announce around 1,000 job losses tomorrow after it failed to renew a contract with Germany's Deutsche Telekom.
Citing people familiar with the matter, Bloomberg News reported that the company will close a German office after it was unable to renew a five year managed services contract. The official announcement was due to be made to staff tomorrow.
It's not clear who has won the contract, and it can be presumed that a portion of the staff made redundant will find employment with the contract winner.
Nokia Siemens Networks assumed control of Vivento Technical Services (VTS) from Deutsche Telekom in October 2007 when it signed the original EUR300 million managed services contract, and EUR150 million supplies agreement.
The services unit to be closed, based in Nuremberg, Germany, has about 1,000 employees at 15 sites.
The two companies declined to comment.
On the web: Bloomberg News
Tags: [nokia siemens networks] [deutsche telekom] [Germany]
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