This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-15858081

The article has changed 5 times. There is an RSS feed of changes available.

Version 0 Version 1
Nokia Siemens to cut 17,000 jobs Nokia Siemens to cut 17,000 jobs
(40 minutes later)
The struggling telecoms equipment manufacturer Nokia Siemens Networks is cutting 17,000 jobs.The struggling telecoms equipment manufacturer Nokia Siemens Networks is cutting 17,000 jobs.
The cuts from its 74,000-strong workforce should help cut operating costs by some 1bn euros ($1.35bn; £860m).The cuts from its 74,000-strong workforce should help cut operating costs by some 1bn euros ($1.35bn; £860m).
Nokia Siemens has struggled to make profits so its parent firms are eager to distance themselves from it.Nokia Siemens has struggled to make profits so its parent firms are eager to distance themselves from it.
This might result in shares in the subsidiary being listed on the stock market.This might result in shares in the subsidiary being listed on the stock market.
"As we look towards the prospect of an independent future, we need to take action now to improve our profitability and cash generation," Nokia Siemens chief executive Rajeev Suri said."As we look towards the prospect of an independent future, we need to take action now to improve our profitability and cash generation," Nokia Siemens chief executive Rajeev Suri said.
Mr Suri described the planned layoffs as regrettable but necessary.
"We need to take the necessary steps to maintain long term competitiveness and improve profitability in a challenging telecommunications market," he said.
The firm, which is a joint venture between Finland's Nokia and Germany's Siemens, has said the restructuring program will involve cuts across operations worldwide.