On Air Now

Upcoming Shows

Program Schedule »

Tune in to Listen

1440 AM Green Bay, WI

Weather

Current Conditions(Green Bay,WI 54303)

More Weather »
67° Feels Like: 67°
Wind: WSW 5 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Scattered Thunderstorms 76°

Tonight

Clear 57°

Tomorrow

Mostly Sunny 80°

Alerts

Nokia Siemens to close German services company

The logo of the telecommunications services company Nokia Siemens Networks is pictured on top their office in Berlin October 9, 2012. REUTER
The logo of the telecommunications services company Nokia Siemens Networks is pictured on top their office in Berlin October 9, 2012. REUTER

FRANKFURT (Reuters) - Nokia Siemens Networks confirmed on Wednesday it would close its loss-making German services company, part of a broader revamp at the telecoms equipment joint venture.

On Tuesday, people familiar with the matter already said the unit, which provides network operations and management services and employs about 1,000 workers, faces closure.

Shuttering the unit, effective by the end of 2013, is part of an overhaul of the joint venture between Nokia and Siemens, which includes shedding a quarter of its workforce and is expected to yield about 1 billion euros ($1.31 billion) in cost savings.

($1 = 0.7642 euros)

(Reporting by Harro ten Wolde)

Comments