Nokia Siemens Networks to cut 17,000 jobs

HELSINKI, FINLAND: Nokia Siemens Networks is planning to cut its workforce by 17,000 worldwide by the end of 2013, the company said in a statement from Finland.

The company said the measures were part of an extensive global restructuring programme, in which it will focus on mobile broadband and services, Xinhua reported.

"We need to take the necessary steps to maintain long term competitiveness and improve profitability in a challenging telecommunications market," said the company's chief executive Rajeev Suri in the statement.

Suri called the job cuts "regrettable" but necessary, and said the company would provide support for individuals and communities affected by the cuts, but defended the decision on economic grounds.

The company is aiming to cut operating expenditure by around one billion euros over two years.

Some 74,000 people currently work for the company in 150 countries, around 7,000 in Finland. The company will announce the geographical distribution of the job cuts later.