German electronics giant Siemens has confirmed it plans to cut 16,750 jobs, or four percent of its workforce worldwide, by 2010.
A third of the job cuts are to occur in Germany. The move is part of plans to save Siemens Faces Major Restructuring, Job Cuts ...
Germany upsets Slovakia at World Ice Hockey Championship ... 1.2 billion euros in overhead costs. Siemen's chief Peter Löscher said the restructuring plan was needed to handle rapidly changing business conditions amid an economic downturn. Trade unions are threatening protests, saying Siemen's move is inexplicable in view of full order books.
(Deutsche Welle)
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