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Reply #56: Nokia Siemens to cut 17,000 jobs, 23% of its workforce [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-23-11 10:23 AM
Response to Reply #13
56. Nokia Siemens to cut 17,000 jobs, 23% of its workforce
http://www.bbc.co.uk/news/business-15858081

The struggling telecoms equipment maker Nokia Siemens Networks is cutting 17,000 jobs, 23% of its workforce.

The cuts from its 74,000-strong workforce should help reduce costs by some 1bn euros ($1.35bn; 860m), the company said in a statement.

The loss-making venture, owned by Finland's Nokia and Germany's Siemens, has faced stiff competition from rivals such as Huawei and Ericsson.

The owners are considering listing the venture as a separate company.
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