Nokia Siemens to cut 17,000 jobs

Mobile equipment group Nokia Siemens has said it will cut 17,000 jobs across the globe as the company continues with its restructuring efforts.

According to the Wall Street Journal, Nokia will cut the jobs to save $US1.35 billion in costs by 2013, with chief executive Rajeev Suri also announcing it will look at divesting other elements of the business.

“While we plan to reduce our workforce significantly, we will not make simple across-the-board reductions. We will focus on doing what we do best,” Suri reportedly said in a conference call.

The move comes as Nokia has also been slashing jobs as it attempts to gain an upper hand in the mobile industry.