Electronics Production |
Nokia Siemens cuts 1820 jobs, plans to close Esbo plant
Nokia Siemens Networks said on Tuesday that it would slash around 1820 jobs, mostly in Finland and Germany, as the last part of its cost-cutting programme of 2 billion euro.
The news comes one day after Nortel announced that it will slash 1 300 jobs when the company is trying to cope with fierce competition, subdued demand and falling prices.
"Continued challenging telecommunications market conditions have shown the need for further reductions," says Nokia Siemens in a statement. Nokia Siemens says that they plan to cut off up to 750 jobs in Finland and close one of its factories employing 500 staff in Munich.
According to YLE Finland, the company intends to shut down it's operation in Esbo Finland.The company has also decided to sell a plant in Durach, Germany, which employs about 500 people, the factory's current management. While the states that they will also slashing about 50 jobs in Egypt and 20 in the U.S., according to Reuters.
