Nokia Siemens To Lay Off 17,000 Worldwide

Nokia Siemens planned layoffs
Nokia Siemens planned layoffs

By Matti Huuhtanen

HELSINKI (AP) -- Nokia Siemens Networks is slashing 17,000 jobs worldwide by 2013 as it strives to cut costs by euro1 billion ($1.35 billion).

The mobile infrastructure company said Wednesday the measures are part of "an extensive global restructuring program," which includes streamlining the organization to improve long-term competitiveness and profitability.