Nokia Siemens to close Bruchsal plant in Germany
HELSINKI/FRANKFURT (Reuters) - Mobile network equipment maker Nokia Siemens Networks (NSN) will cut 650 jobs as it shuts down its plant in Bruchsal, Germany, a spokeswoman for the company said on Thursday.
The 50-50 joint venture between Nokia Oyj and Siemens AG is carrying out 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 1 billion euros ($1.3 billion) in cost savings by the end of next year.
Workers at the site in Bruchsal, about 125 kilometers south of Frankfurt, were informed of the plan on Tuesday, another spokeswoman for NSN said.
Depending on how talks with labor representatives go, the company envisions that workers could start leaving in three to six months, she said.
- Tweet this
- Share this
- Digg this
- UPDATE 1-Don't mess with nuclear Russia, Putin says
- Don't mess with nuclear Russia, Putin says
- Ukraine seeks to join NATO; defiant Putin compares Kiev to Nazis |
- Exclusive - Over 100 Russian soldiers killed in single Ukraine battle - Russian rights activists
- Scotland's pro-independence campaign gains on final TV debate - poll