The CEO of Nokia Siemens Networks (NSN) has warned that the mobile phone network equipment maker should not expect any more investment from parent companies Nokia and Siemens, reports Reuters. A letter written by Rajeev Suri and sent to NSN’s 9,000 German employees was quoted by German magazine Spiegel as saying the parent companies have provided capital “for the last time” and that they expect the most recent investment to provide results.

Suri also wrote that profitability is too low and the company – set up in 2007 – is using up its cash reserves with too many business areas and regions not producing adequate returns. NSN announced last week it would cut 17,000 of its jobs around the world, equivalent to 23 percent of its total workforce, “to improve our profitability and cash generation”, according to Suri.

NSN is looking to exit a number of business areas as part of the restructure, according to a memo leaked last week, with the future of its fixed-line VoIP, broadband access, WiMAX, narrowband, carrier Ethernet, business support systems and communications and entertainment solutions units all being considered.