Bloomberg News

Nokia Siemens Seeks $2.6 Billion Cost Cut, FT Deutschland Says

April 11, 2012

Nokia Siemens Networks wants to reduce annual costs by 2 billion euros ($2.6 billion), Financial Times Deutschland reported, citing unidentified persons close to the company.

Part of the effort is a new management structure disclosed to employees in an e-mail, the newspaper said in a preview of an article for tomorrow’s edition.

Daily leadership tasks will now be handled by a committee of three, composed of Chief Executive Officer Rajeev Suri and the company’s chief financial and chief operating officers, according to FTD.

To contact the reporter on this story: Karin Matussek in Berlin at kmatussek@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@Bloomberg.net.


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