Tags: Nokia | jobs | layoffs | Finland

Nokia Siemens Begins Global Streamlining, 400 Layoffs Planned in Finland

Wednesday, 12 Sep 2012 09:52 AM

Nokia Siemens Networks says it has started talks with employees to cut 400 jobs in Finland as part of global plans to streamline operations.

The wireless network group announced last year it will slash 17,000 jobs worldwide — almost one quarter of its work force — to cut annual costs by €1 billion ($1.3 billion) by the end of 2013.

The joint venture between Finland's Nokia Corp. and Siemens AG of Germany has struggled to make a profit amid stiff competition in the global market for network infrastructure, the technology and services needed to run mobile and fixed-line networks.

Based in Espoo, near Helsinki, the company has operations in 150 countries. It employs 6,200 people in Finland.

Nokia shares were up 5 percent at 2.28 euros ($2.94) in Helsinki afternoon trading.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
129
2012-52-12
Wednesday, 12 Sep 2012 09:52 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved