Nokia-Siemens Axing 17,000 Positions

alphadogg writes with troubling news for the network hardware joint-venture between Nokia and Siemens. Quoting the article: "Struggling network infrastructure vendor Nokia Siemens Networks is planning to cut 17,000 jobs worldwide, as it aims to cut $1.35 billion from its costs by the end of 2013, the company said Wednesday. About 23% of the company's 74,000 employees will be laid off. The 4 1/2-year-old joint venture between Nokia and Siemens has been struggling to compete with Swedish Ericsson and Chinese vendor Huawei. Parent company Nokia's ongoing problems have made Nokia Siemens' situation even more difficult."

Comments

Where will most of the jobs be cut?

[KermodeBear]

Any idea on which countries will have the most positions lost? The article didn't mention this bit. Really is too bad, this is not a great time to be out of a job.