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Mon 29 Jan 2007 04:00 AM

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Nokia Siemens Networks to start sharing product plans in February

The synergies associated with the creation of Nokia Siemens Networks are expected to result in a headcount adjustment over the next four years of approximately 10-15% from the initial combined base of approximately 60,000.

Nokia and Siemens have announced they would start sharing the proposed product portfolio plan for the future Nokia Siemens Networks with employees and customers starting in early February.

"As we continue to make strong progress in integration planning for Nokia Siemens Networks, it is critical that we are able to maintain the strong support that we have seen so far from customers by providing them with clarity about our future portfolio plans," said Simon Beresford-Wylie, CEO-designate of Nokia Siemens Networks.

"Sharing that information now is also in the best interests of employees so we are able to ensure the strongest possible start for Nokia Siemens Networks. While the portfolio plans are still subject to input from customers and employee consultation processes, we believe that we will be ideally positioned to provide best-in-class products and services for the converging telecommunications world."

The synergies associated with the creation of Nokia Siemens Networks are expected to result in a headcount adjustment over the next four years of approximately 10-15% from the initial combined base of approximately 60,000. Actual employee reductions will only take place after the appropriate consultations are completed according to each jurisdiction's labour law requirements and Nokia Siemens Networks has begun operations.

The Nokia/Siemens transaction has been given antitrust approval in the European Union and the United States, and the new company's global mode of operation and organisational structure have been defined. The planned merger to create Nokia Siemens Networks is expected to close in the first quarter of 2007.

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