Siemens cuts 15,000 jobs to save €6bn
Siemens has announced it will cut 15,000 jobs worldwide - representing 4% of its workforce - as part of its ‘Siemens 2014’ cost-cutting measures. One-third of the cuts will reportedly come from Germany.
“The ongoing and planned workforce adjustments in the context of Siemens 2014 are about 15,000 positions worldwide, of which about 5000 are in Germany,” the company said in a statement.
Of the job cuts in Germany, 2000 positions will be axed in Siemens’ industry division, 1400 in energy, 1400 in infrastructure and cities, and 200 in the corporate division, The Australian has reported.
Half of the redundancies will take effect in 2013 and the remainder by the end of 2014. The Siemens 2014 initiative is expected to save approximately €6 billion.
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