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Nokia Siemens said it aims to cut 2,900 jobs in Germany and 1,200 in Finland as part of its massive restructuring program, which aims to cut nearly a quarter of its workforce and to save about 1 billion euros ($1.31 billion) a year. Nokia Siemens, which has struggled to make a profit since being set up in 2007, was formed by Nokia and Siemens in the hope of building enough scale to lead an industry dominated by Swedish company Ericsson and, increasingly, by Chinese entrants. It has faced aggressive pricing from rivals and an economic downturn that has forced telecoms companies to cut spending. ($1 = 0.7625 euros) (Reporting By Tarmo Virki and Irene Preisinger; Editing by Erica Billingham) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. 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