NSN plans more belt-tightening and a restructuring

To reduce its unit costs, NSN says it will cut its current five divisions to just three: Business Solutions, Network Systems and Global Services. It will also cut around 5000 jobs. The changes will be made at the beginning of next year.

According to NSN CEO, Rajeev Suri, as well as cutting costs the restructuring is also designed to position the company in a more strategic role - more high-level 'partner' than sales-oriented box-shifter.

On the financial side, the target is for an op-ex reduction of about €500 million by the end of 2011 and NSN plans a global personnel review with the aim of reducing the headcount by about 7-9 per cent (around 5000 redundancies out of its 64,000 workforce).