NSN ponders layoffs, other cuts to save $1.5B
Nokia Siemens Networks cited the lingering economic stagnation and tougher competition as it outlined plans to possibly cut its workforce up to 9%, trim its number of business divisions from five to three and seek additional cuts aimed at saving the equipment maker up to $1.5 billion. Some telecom-equipment makers have continued to suffer in areas where carriers have not returned to their pre-recession spending habits. Wall Street Journal, The (11/03), Reuters (11/03)