- Associated Press - Wednesday, November 23, 2011

HELSINKI (AP) — Nokia Siemens Networks says it will cut 17,000 jobs worldwide by 2013 as it strives to cut costs by 1 billion euros ($1.35 billion).

The Finnish-German company says it will launch “an extensive global restructuring program” by streamlining and other measures, including a large reduction in suppliers.

The mobile infrastructure provider is a 50-50 joint venture between Finland’s Nokia Corp. and Germany’s Siemens AG.