Nokia Siemens Networks to begin job cutting in Finland

HELSINKI Wed Sep 12, 2012 6:40am EDT

A red traffic light is seen next to the German headquarters of Nokia Siemens Networks in Munich January 31, 2012. REUTERS/Michael Dalder

A red traffic light is seen next to the German headquarters of Nokia Siemens Networks in Munich January 31, 2012.

Credit: Reuters/Michael Dalder

Related Topics

HELSINKI (Reuters) - Nokia Siemens Networks said on Wednesday it will begin lay-off talks in Finland next week, with around 400 workers expected to get severance packages as part of its global cost-cutting program.

The company, formed by Nokia and Siemens in 2007, said last November that it wanted to cut a quarter of the group's workforce as it struggles to make a profit amid fierce pricing competition from Chinese rivals and Sweden's Ericsson.

NSN also said earlier this year it would cut about 2,900 jobs in Germany from its total workforce there of 9,100.

(Reporting by Helsinki Newsroom; Editing by Greg Mahlich)

FILED UNDER:
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article