Nokia Siemens Networks to slash 1,250 jobs

BAD NEWS RINGING: An employee of Nokia Siemens Networks enters the office in Dubai.

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Helsinki: The 50:50 joint venture Nokia Siemens Networks said Tuesday it planned to cut some 1,250 jobs in Finland and Germany as part of cost-cutting measures.

The group - launched last year between Nokia and Germany's Siemens - estimated the move would impact 750 employees in Finland and about 500 employees in Munich, Germany.

The cuts in Germany were to take effect at the latest.

After earlier cuts, transfers and voluntary severance resignations, Nokia Siemens Networks said it expected to employ 7,000 people in Finland down from some 9,200.

The group said it also planned to sell a division in Durach, Germany that employs 500 people and cut some 50 jobs when it closes a facility in Egypt.

Talks were pending with local unions. Following the envisaged cuts, the joint venture would have some 60,000 employees worldwide including 10,000 in Germany.