Nokia Siemens to shut down Bruchsal plant

Nokia Siemens Networks (NSN) has disclosed plans to shut down its plant in Bruchsal, Germany. The 50-50 wireless network joint venture between Nokia Oyj and Siemens AG announced its cost-cutting plan, as part of which it will lay off a quarter of its staff (around 650 positions), and sell product lines to focus on mobile broadband.

With this restructuring, the mobile network equipment maker expects US$ 1.3 billion in cost savings by 2013 end.