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 This material may not be published, broadcast, rewritten or redistributed.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
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

SpaceX Launches Supplies Rocket to International Space Station

Friday, 18 Apr 2014 21:25 PM

The SpaceX company returned to orbit Friday, launching fresh supplies to the International Space Station after more than . . .

Cool Heels on Climate Change Actions, Skeptics Say

Friday, 18 Apr 2014 15:08 PM

A report from the Intergovernmental Panel on Climate Change has been seized upon by the Obama administration and environ . . .

New Technique to Grow Stem Cells Could Lead to Cloning

Friday, 18 Apr 2014 10:45 AM

Experts warned that a new technique allowing stem cells to be grown from the DNA of human adult males could lead to huma . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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