Nokia Siemens to Cut 17,000 Jobs

Network equipment maker Nokia Siemens Networks Wednesday said it will cut 17,000 jobs globally in a bid to reduce operating costs by €1 billion by the end of 2013, part of a major restructuring that will see the company focus on mobile broadband and services.

Nokia Siemens, a joint venture between Finland’s Nokia Corp. and Germany’s Siemens AG, had 74,000 employees on Nov. 1.

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