Telecoms equipment maker Nokia Siemens Networks plans to cut 9,000 jobs by the end of 2010 in an effort to boost its competitiveness.
This represents some 15 per cent of its global workforce.
The group said today it had begun talks with staff representatives in Germany and Finland where about half of the cuts will fall. Jobs will also go in other countries, but the company failed to elaborate further.
Nokia Siemens Networks, a venture between Nokia Oyj and Siemens that started operations last month, repeated it aimed to achieve annual savings of €1.5 billion as it competes for increasingly scarce business amid slowing spending by telecoms operators.