Nokia Siemens, a telecommunications equipment joint venture, plans to lay off up to 5,700 employees, or 7-9 percent of its work force, in order to cut about $740 million in costs. The company, which is a joint venture between Siemens and cell phone maker Nokia, will also whittle down to three business units from five. But you wouldn’t really get it after reading the headline on its press release which states, “Nokia Siemens Networks Targets Improved Financial Performance, Return toSource: GigaOM RSS Feed
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