Ailing telco kit manufacturer Nokia Siemens Networks (NSN) is to slash 17,000 jobs worldwide by the end of 2013 as it eyes up an IPO. This equates to a 23 per cent drop in the workforce which along with rationalisation of real estate, targeted budget cuts in IT, product and service procurement and admin costs are expected to …
...as one kicked out in the second round (receiving a decent shedload of wedge) I knew this was inevitable.
The Nokia Networks / Siemens 'alliance' that the gormless Beresford-Wylie set up had a 6-year agreement. That'll take it to April 2013. Then, they can divorce. Just in time for the Initial Public Offering (IPO). Great, coincidental timing.
However, 23% off the company is huge, considering the German branch, due to German employment laws will probably escape lightest, unless they delay until the divorce can be realised, and completed. The Finns, and those in Irving, San Diego etc. will be smashed.
Mercifully, it's lovely revenge on my old manager who kicked me 4 years ago.
Justice and revenge, like 'bubble and squeak' really IS a dish best served cold...
I'm seriously glad I was kicked when I was - there's NO WAY NSN can possibly pay this many the same 'golden goodbye' that I got. They simply don't have it. Think the average was €50,000. Multiply by 17,000... (Not if you're using a windoze XP computer's calculator, you can't copy the result to paste it (!) )
Please buy shares in my company.
I've sacked everyone, so no worries about excess expences.