04 November 2009 | Jake Kanter
Telecoms firm Nokia Siemens Networks will enlist procurement to make substantial savings as part of a major cost reduction programme.
It aims to save ?500 million (£446.9 million) by the end of 2011 by cutting jobs in its 64,000-strong workforce by 7-9 per cent and reorganising business units.
In addition, it also expects to save substantially more than ?500 million every year by reducing the cost of goods and services it purchases.
The company, which is a manufacturer of cellular base-stations, networks and infrastructure, hopes to pass the procurement savings on to customers in the form of more competitive prices for products.
A spokesman refused to confirm the precise procurement cost reduction target, but said the company will work with suppliers to secure savings.