Nokia Siemens to close Bruchsal plant in Germany
November 29, 2012 7:14 PM EST
Mobile network equipment maker Nokia Siemens Networks (NSN)
The 50-50 joint venture between Nokia Oyj
The restructuring should result in 1 billion euros (£811.3 million) in cost savings by the end of next year.
Workers at the site in Bruchsal, about 125 kilometres south of Frankfurt, were informed of the plan on Tuesday, another spokeswoman for NSN said.
Depending on how talks with labour representatives go, the company envisions that workers could start leaving in three to six months, she said.
($1 = 0.7746 euros)
(Reporting by Terhi Kinnunen and Maria Sheahan; Editing by Helen Massy-Beresford)
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