Siemens CFO Blasts Over NSN 3,000 German Job Cut Plan

Posted on Mar 12 2012 - 8:50am by Editorial Staff

Over the way Nokia Siemens cutting the jobs in Germany, Siemens finance Chief Joe Kaeser has blasted the way joint venture between Nokia and Siemens – Nokia Siemens Networks was handling the planned job cuts in the country, reports Reuters. NSN is cutting around 20,500 jobs out of total of its overall 74,000 jobs.

“Siemens will not accept without a fuss that NSN simply disappears from Munich,” Kaeser told the Sueddeutsche Zeitung newspaper in Siemens’s home town. “It is really time for NSN management and labor representatives to sit down and constructively seek economically sustainable solutions for the Munich site,” he said in the interview.

Kaesar acknowledges that it had no choice but to consolidate the action. He said NSN’s restructuring was not a matter of requiring more money as it already having enough capital and liquidity. NSN, in which both Nokia and Siemens having 50:50 percent joint ventureship and is run by Rajeev Suri, from Finland.

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