Thursday, November 24, 2011

Nokia network joint venture to cut 17,000 jobs (Reuters)

HELSINKI (Reuters) ? Nokia Oyj (NOK1V.HE) said on Wednesday its network gear joint venture Nokia Siemens Networks aims to cut annual operating costs by around 1 billion euros, including slashing some 17,000 jobs.

The move comes as the venture with Siemens (SIEGn.DE), faces strong pressure from Ericsson (ERICb.ST) and Chinese rivals.

(Reporting by Helsinki Newsroom)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20111123/bs_nm/us_nokia

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