Nokia Siemens closes German plant, 650 jobs cut

Nokia Siemens closes German plant, 650 jobs cut

Summary: Mobile network equipment maker will cut 650 jobs as it closes a plant in Germany.

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TOPICS: Nokia
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Nokia Siemens Networks will shutter a plant in Bruchsal, Germany, leading to the loss of 650 jobs. 

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The plant, located around 125 kilometers south of Frankfurt, were told of the plans to shutter the plant on Tuesday, a spokesperson for the company said. 

The joint venture between Nokia and Siemens is continuing to cut jobs and excess fat from the belly of its worldwide operations in a bid to conserve cash. The firm said earlier this year that it was planning to cut around one-quarter of its global workforce and refocus its efforts on mobile broadband.

Nokia Siemens' restructuring efforts should result in €1 billion ($1.3bn) in cost savings by the end of next year, reports Reuters, which first broke the story.

Staff could be leaving in the next three to six months, depending on the outcome of talks with union and labor representatives. 

It comes in the same week that Nokia Siemens' chief executive Rajeev Suri said the firm could be heading to the U.S. to fill a Huawei and ZTE-shaped hole in the market, after a U.S. House Intelligence Committee warned businesses not to trust these firms as they "pose a security threat to the United States."

Topic: Nokia

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