The German electronics giant Siemens says it intends to cut 16,750 jobs or shed four percent of its workforce worldwide by 2010 in a bid to save 1.2 billion euros in overhead costs.
Most of the job cuts will Siemens Faces Major Restructuring, Job Cuts ...
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Siemens Corruption Affair Claims Healthcare Chief's Job ... be in administration under a restructuring plan which Siemen's chief Peter Löscher says is needed to handle rapid changes in business conditions and economic downturn. A third of the cuts or 5250 jobs are to vanish at four Siemens works within Germany, Trade unions are threatening protests, saying Siemen's move is inexplicable in view of full order books. The planned layoffs follow with a far-reaching corruption scandal at Siemens. Worldwide it employs approximately 400,000 people.
(Deutsche Welle)
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