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Electronics Production | August 22, 2005

Close to 60 redundancies in Nera

Nera Satcom, a wholly-owned subsidiary of Norweigan based Nera ASA, notified 58 of its employees today that they are likely to be made redundant by the end of August this year.

Upon the presentation of its accounts for the first half of 2005, Nera ASA announced that measures were being taken to improve the profitability of its satellite communication operations. The need for cost reductions has arisen from long term losses in the broadband business as well as reduced profitability for the rest of the satellite communications business. Based on this, the Nera Satcom management has prepared a package of measures, reducing the level of research and development. The main focus going forward will be existing customers and value chains. Nera Satcom will continue its work on both Inmarsat products and broadband products in the years to come. Other cost reducing measures will be taken in addition to the changes related to R&D. However, the company will seek to avoid affecting resources directed towards sales and customer relations. The measures will have some impact on the results for the fourth quarter 2005, and will take full effect in 2006.
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