While this doesn't come as a huge surprise -- this layoff was predicted last year -- it still hurts to see such massive cutbacks in an industry held so near and dear to our hearts. Apparently 2,900 jobs in Germany and 1,700 in Finland will be cut on the road to finding savings to the tune of $2 billion by 2010. The final cut will be about 9,000 employees which is roughly 15 percent of the joint venture's workforce of 60,000. The joint venture was founded to help both companies compete with the likes of Ericsson and Alcatel-Lucent with 5 major business units focusing on Radio Access, Broadband Access, Service Core and Applications, IP / Transport, and Operations Support Systems. Of course, the verdict is still out on how successful this venture will ultimately be, but Nokia's track record in the mobile space has been strong for as many years as we care to remember.

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Nokia Siemens Networks drops the axe on 9000 jobs