The company said the job cuts will affect 750 employees in the Finish cities Espoo, Tampere and Oulu, as well as 500 staff at the Hofmannstrasse office in Munich, Germany.
The company, a joint venture between Nokia Corp. and Siemens AG, said the layoff notices were part of the planned 9,000 job cuts announced when the joint venture was formed in June, 2006.
It said it has so far reduced the number of employees by a total of 6,000.
Included in that was a job cut of 2,300 staff in Germany, which was concluded in May 2008. However, the company said new assessments of cost-cutting requirements and "continued challenging telecommunications market conditions" meant it had to continue the reduction now.
Nokia Siemens Networks also said it has reached an agreement to sell its manufacturing site in Durach, Germany to the current management of the plant, which will result in a transfer of around 500 employees.
Some 50 jobs in Egypt and 20 jobs in the United States will also be cut, and the company said other countries should also expect to see small staff reductions.
Source : IHT
[tags : recession bankrupt collapse retrenchment financial news collapse stagnation economic]
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