Tuesday, November 11, 2008

Nokia job cuts, touches 1,820

Telecom gear vendor Nokia Siemens Networks said it would slash around 1,820 jobs, mostly in Finland and Germany, as the last part of its 2-billion-euro ($2.58 billion) cost cut programme.

The news comes one day after Canada's Nortel said it would slash 1,300 jobs as vendors try to cope with fierce competition for new business, subdued demand and falling prices.

The programme, which includes some 9,000 job cuts in total, is aimed to help boost its operating profit margin to 10 percent by the end of 2009. NSN had 60,200 staff at end-September

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