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Nokia Oyj and Siemens AG's Joint Venture Accelerates Restructuring Plan Including Layoffs and Divestment of Product Lines-Reuters


Friday, 21 Sep 2012 10:18am EDT 

Reuters reported that Nokia Siemens Networks, a joint venture between Nokia Oyj and Siemens AG, has decided to move ahead with its restructuring faster than expected. The company is in the middle of a cost-cutting plan, which includes laying off a quarter of its staff and selling product lines to focus on mobile broadband. The restructuring should result in more than EUR 1 billion (USD 1.3 billion) in cost savings by the end of 2013. 

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17 May 2013