Nokia Siemens Networks to cut as many as 5,700 jobs

After recording a hefty third quarter loss, Nokia Siemens Networks has announced that it will lay off a significant portion of its global workforce. The company intends to let go between 7 and 9% of its 64,000 workers, for a total elimination of 4,500 to 5,700 jobs. In combination with its "strategic workforce rebalancing," Nokia Siemens will reduce overheads, expand its portfolio and consider acq...

Read more...