Nokia Siemens To Close Small Factory In India
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03 Jun,2013 14:15 IST

Nokia Siemens To Close Small Factory In India

Nokia Siemens Networks said it plans to shut down a small factory in India at the end of July as part of a global cost-cutting drive
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Telecom equipment maker Nokia Siemens Networks said it plans to shut down a small factory in India at the end of July as part of a global cost-cutting drive.
 
A spokeswoman for the joint venture between Nokia and Siemens said the Kolkata plant, which employs 48 people and makes fixed-line communications equipment, was "non-core and also unprofitable."
 
The company's massive restructuring drive, including asset sales and 17,000 job cuts worldwide, have helped NSN's operating and gross margins rise in recent quarters.

(Reuters)

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