According to an article in the Dallas Morning News, Nokia Siemens Networks announced that it will implement 100 job losses in the Dallas area. The company employs 900 Dallas residents and 64,000 workers worldwide. The job losses are a part of Nokia's global reorganization designed to save more than $700 million by the end of 2011.
The article said:
"The company said it expects to eliminate 7 percent to 9 percent of its total workforce, but that percentage could be higher in some countries... Nokia Siemens said that as part of its reorganization it will consolidate its five business units into three. It will also continue to look at possible acquisitions."
Nokia's consolidation and acquisitions could end with more job losses, including job losses for any company acquired by the telecommunications company. Nokia's job loss announcement is just another sign that the recession has not ended for most ordinary Americans. While economists speak with optimism, many everyday people are still suffering from job losses and salary cuts. Even for those who have searched for work for more than a year, this economy has proven to be quite difficult for the average job seeker.