HELSINKI (AP) -- Nokia Siemens Networks said Thursday it will lay off up to 450 workers in Finland in a move to cut costs.
The measures are part of company plans to ax 5,700 jobs globally to annually save euro500 million ($682 million) by 2011.
The mobile network equipment maker -- a joint venture between Finland's Nokia Corp. and Siemens AG of Germany -- said it will make the job cuts mostly in network support services.
"The announced plans are necessary for us to remain competitive and improve our economic performance," said Pekka Soini, head of Nokia Siemens' operations in Finland.
As part of a global drive to cut costs, Nokia Siemens has reduced five business units to three and plans to strengthen its business through partnerships and acquisitions.
The savings program could include cutting up to 9 percent of its current global work force of some 64,000 employees, the mobile network equipment maker has said.
Nokia Siemens Networks is based in Espoo just outside Helsinki. It is the world's second biggest networks manufacturer after L.M. Ericsson of Sweden.
