Nokia Siemens to lay off 120 workers in Finland

HELSINKI: Nokia Siemens Networks, the mobile network equipment maker, said Tuesday it will lay off up to 120 workers in Finland, on top of 450 job cuts announced last month.

The joint venture between Finland's Nokia Corp. and Siemens AG of Germany said the latest layoffs would be mostly at its Espoo headquarters and two locations in western Finland.

The measures are part of company plans to ax 5,700 jobs globally to annually save euro500 million ($665 million) by 2011. It employs 64,300 people worldwide up 6 percent from a year earlier.

Nokia Siemens Networks, based in Espoo just outside Helsinki, is the world's second biggest networks manufacturer after L.M. Ericsson of Sweden.