Nokia Siemens Networks to Prune 17,000 Jobs Globally

BY the end of 2013, Nokia Siemens Networks of Nokia Oyj and Siemens AG, is going to reduce its workforce globally by 23% – resulting in 17,000 lost jobs.

Nokia Siemens is aiming at trimming its operating expenses and production costs by $1.3 billion.

Nokia Siemens

The Company plans to streamline ts operations by concentrating on mobile broadband and other services and divest itself of other, less lucrative businesses.

Nokia Siemens Networks was established in 2007 to compete with the likes of Ericsson and Huawei  but has been making losses all along.

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