Tags: EU | Germany | Siemens

Siemens to Slash 2,000 German Jobs

Thursday, 28 Jan 2010 01:09 PM

Industrial conglomerate Siemens AG says it plans to slash around 2,000 manufacturing jobs in Germany as part of restructuring measures due to lower market demand.

The company said in a statement Thursday that the job cuts would include roughly 850 jobs in its industry solutions division and drive technology segments. It said the measures were in response to a drop in demand and consolidation in the sector.

Siemens shares were trading up more than 1 percent at euro67.73 ($95) in Frankfurt.

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Industrial conglomerate Siemens AG says it plans to slash around 2,000 manufacturing jobs in Germany as part of restructuring measures due to lower market demand.The company said in a statement Thursday that the job cuts would include roughly 850 jobs in its industry...
EU,Germany,Siemens
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2010-09-28
Thursday, 28 Jan 2010 01:09 PM
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