Nokia Siemens to lay off 17,000 people by 2014

Nokia Siemens Networks will eliminate 17,000 jobs by the end of 2013. The company was founded in 2007 by Nokia and Siemens to manufacture network equipment, but from now on will focus only on the bandwidth for mobile.

The elimination of these jobs will be a cost savings of one billion euros, according to the Finnish company acknowledged that justified the move in a reorganization of the business goals, more focused on the mobile. Nokia Siemens has 75,000 employees worldwide.

In September the company received a capital injection of one billion euros from its two partners. The company simplified its organizational structure, functions and take advantage of the integration of Motorola Solutions, acquired this year.