Nokia Siemens Announces Ambitious Employee Sacking Plan

They’re swinging the ax over at Nokia Siemens again. The mobile network equipment maker said today that it plans to reduce its 64,000-strong workforce by up to nine percent in a bid to “improve financial performance and return to growth”–something the joint venture has had a hard time doing since it launched in February 2007. Sadly, as many as 5,700 employees may lose their jobs as a result. This, after the 15 percent workforce reduction the company underwent last year.

“Despite having fully achieved the original merger integration savings objectives of Nokia Siemens Networks, changes in the global economy and competitive environment make further cost reductions necessary,” the company said.