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Nokia Siemens to Ax up to 5,760 Jobs

Posted by Susan Hall Nov 3, 2009 11:47:56 AM

Nokia Siemens Networks announced Tuesday it plans to cut its global work force by as many as 5,760 jobs, reports Bloomberg.

 

The joint venture between Finland's Nokia Corp. and Siemens AG of Germany also said its five business units will be merged into three by January, and that it's looking to strengthen its business through partnerships and acquisitions, reports The Associated Press in a story on seattlepi.com. The company has a work force of 64,000.

 

The joint venture was a huge drain on Nokia's bottom line in the most recent quarter, hence the aggressive cost-cutting.

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