Nokia Siemens to slash 17,000 jobs worldwide

Struggling network infrastructure vendor Nokia Siemens Networks is planning to cut 17,000 jobs worldwide, as it aims to cut ?1 billion ($1.35 billion) from its annual costs by the end of 2013, the company said Wednesday. About 23 percent of the company's 74,000 employees will be laid off. The 4 1/2-year-old joint venture between Nokia and Siemens has been struggling to compete with Swedish Ericsson and Chinese vendor Huawei. Parent company Nokia's ongoing problems have made Nokia Siemens' situation even more difficult.

Source: http://www.infoworld.com/d/the-industry-standard/nokia-siemens-slash-17000-jobs-worldwide-179949

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