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Nokia Siemens slashes Germany, Finland workforce

Posted: 02 Feb 2012 ?? ?Print Version ?Bookmark and Share

Keywords:network equipment? job cuts? mobile phone network?

Nokia Siemens Networks is currently in talks with labor unions in its Germany and Finland sites about slashing more than 4,000 jobs. The job cuts are part of a company-wide shakeup.

Nokia Siemens was formed by Nokia and Siemens hoping to set foot in an industry where Ericsson dominated. It is now the second-largest mobile phone network equipment provider but has struggled to make a profit since being formed.

Nokia Siemens said it aims to cut 2,900 jobs in Germany and 1,200 in Finland, or nearly a quarter of its workforce, as part of its massive restructuring program. The company hopes the job cuts will help the firm save around $1.31 billion (1 billion euros) a year.

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