Tags: EU | Germany | Siemens | Job | Cuts

Siemens to Cut 4,200 Jobs at IT Business

Thursday, 18 Mar 2010 08:04 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Siemens AG says it plans to cut 4,200 jobs worldwide at its information technology unit as it restructures the business.

The industrial conglomerate said Thursday that it wants to put Siemens IT Solutions and Services, or SIS, "on a solid long-term foundation."

It says the plan calls for eliminating 4,200 of the current 35,000 jobs "by 2011." About 2,000 of the job cuts will come in Germany.

The company says it plans to achieve the cuts through voluntary departures as far as possible.

Siemens says it also plans to make additional investments of more than 500 million euros ($688 million) in the business by 2012. It says the company's organization will be "considerably simpler" in future.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Giant Sunspot Has Scientists Scratching Their Heads

Thursday, 30 Oct 2014 06:47 AM

A colossal sunspot - at 80,000 miles wide, the largest seen in about a quarter of a century - is acting peculiarly, prod . . .

Group Says Piece of Metal Found on Island Is From Earhart's Plane

Wednesday, 29 Oct 2014 23:23 PM

Researchers probing the 1937 disappearance of famed American aviator Amelia Earhart's plane said on Wednesday they now b . . .

Retailers' Deal With Rival System Blocks Apple Pay

Wednesday, 29 Oct 2014 14:28 PM

A coalition of retailers is refusing to accept Apple's new mobile wallet because of agreements they have already signed  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved