Nokia Siemens to shut city fixed-line factory
Quotes

Nokia Siemens to shut city fixed-line factory

Last Updated: Saturday, June 01, 2013, 19:25
 
 Comment 0
 
Nokia Siemens to shut city fixed-line factory
Kolkata: Telecom equipment-maker Nokia Siemens Networks (NSN) will close down its fixed-line manufacturing facility in the city from July 31.

The company in a statement here yesterday said the manufacturing facility at Salt Lake catered to fixed-line telephony and decline in demand, refocus of company strategy towards mobile broadband and unprofitability of fixed line telephony products accounted for the closure.

Around 48 employees out of the 65 who had not opted for voluntary retirement schemes or could not be offered alternate opportunity will lose their jobs.

The decline in demand and refocus of company strategy towards mobile broadband and unprofitability of fixed line telephony products accounted for the closure, the statement said.

Closure of Kolkata manufacturing centre is seen as part of NSN's earlier announced plan that it will cut off 17,000 staff world-wide as part of a major global restructuring to focus on more profitable operations.

According to reports, the company, a joint venture between Finland's Nokia Corporation and Siemens AG of Germany was looking to improve profitability by reducing operating expenses and overheads by 1 billion euros by the end of 2013.

However, NSN said it remains committed to West Bengal with current employee strength of around 700 supporting large telecom operators within West Bengal managing mobile telecom networks.

PTI



First Published: Saturday, June 01, 2013, 19:25


Comments


comments powered by Disqus
Forbes Best Places for Biz 2014
Forbes Best Places for Biz 2014
Hyundai Elite i20
Hyundai Elite i20
John Kery with Indian Biz Honchos
John Kery with Indian Biz Honchos
Honda Mobilio MPV
Honda Mobilio MPV
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved