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Euronews: NSN Job Cuts Halved in Finland

Nokia Networks , Ericsson AB (Nasdaq: ERIC) and Telia Company lend a Nordic feel to today's lineup of EMEA telecom headlines.
  • It will be of no comfort to those who are losing their jobs, but the number of Nokia Siemens Networks positions being axed in Finland has fallen, from around 1,200 to 624, according to Finnish website YLE. The recently announced outsourcing of some NSN jobs to Tieto Corp. is one of the reasons why the number of redundancies is lower than previously anticipated. Last year, NSN said that around 17,000 jobs would be lost worldwide as part of a massive restructuring program. (See Euronews: Finns to Bear Brunt of NSN Cuts?, NSN Could Lose More Than 17,000 Staff and NSN Unveils Its Kill List .)

  • Sweden's Ericsson has increased its stake in South Korean joint venture LG-Ericsson Co. Ltd. from 50 percent plus one share to 75 percent. Ericsson acquired Nortel's part of the joint venture with LG Electronics Inc. (London: LGLD; Korea: 6657.KS) in July 2010. LG-Ericsson provides a range of services for operators and enterprises in both the mobile and fixed-line sectors. (See Ericsson Ups Stake in LG-Ericsson and Ericsson Snaps Up LG-Nortel Stake.)

  • Meanwhile, the Finnish government, via state investment company Solidium, has reduced its stake in Nordic operator TeliaSonera, from 13.7 percent to 11.7 percent, reports Telecompaper.
  • Hungary is to be referred by the European Commission to the European Court of Justice for refusing to lift its "Robin Hood" tax on the country's telecom sector, reports Reuters. The Hungarian government could face big fines if it refuses to play ball. (See Euronews: Oct. 18.)

  • Operator Etisalat has been named as the most profitable company in the United Arab Emirates in a study by Arabian Business. Etisalat recorded a net income of US$1.59 billion in 2011. (See Euronews: Etisalat Tunes to AlcaLu's lightRadio.)

  • The northern English cities of Liverpool, Nottingham and Sheffield have all missed out on a share of the £100 million ($158 million) government fund earmarked for the creation of 100Mbit/s citywide networks, reveals a BBC report. In Wednesday's Budget statement, U.K. Chancellor George Osborne revealed that the successful bidding cities for the cash were London, Edinburgh, Belfast, Cardiff, Birmingham, Bradford, Bristol, Leeds, Manchester and Newcastle. (See UK Govt Lists 'Super-Connected' Cities.)

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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