NSN to get rid of 1,900 jobs

Reuters reports Nokia Siemens Networks (NSN) is to slash some 1,900 jobs, mostly in Finland and Germany, as the last part of its €2 billion programme to cut costs.

Nokia Siemens said it aims to cut up to 750 jobs in Finland and close one of its sites employing 500 staff in Munich. The company has already been severely criticised in Germany for laying off so many staff after the company was formed as a joint merger between divisions of Nokia and Siemens in June 2007.

It is also it to sell a manufacturing site in Durach, Germany to the plant's management will cut 50 jobs in Egypt and 20 in the US, according to the BBC.  

NSN had 60,200 staff at the end of September. The programme is designed to boost the company's operating profit margin to 10% by the end of 2009: its underlying operating profit margin fell to 5.1% in the third quarter from 6.7% in Q2.

 

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