The manufacturer of telecommunications equipment are struggling Nokia Siemens Networks is cutting 17,000 jobs.

Cut to 74 000 employees should help to reduce operating costs by about 1 billion euros ($ 1.35bn, £ 860m).

Nokia Siemens has struggled to make a profit to its parent companies are eager to distance themselves from it.

This may result in prosecution of the subsidiary is publicly traded.

“If we look towards the possibility of an independent future, we must act now to improve our profitability and cash flow,” Nokia Siemens CEO Rajeev Suri said.

Mr. Suri description of the planned layoffs as a regrettable but necessary.

“We must take steps to maintain the long-term competitiveness and improve profitability in a difficult market telecoms,” he said.

The company, which is a joint venture of Nokia in Finland and in Germany, Siemens said the reorganization involved in duplication of efforts around the world.