Of the total job cuts, 1,800 impact engineering positions. By Suzanne Deffree, Managing Editor, News -- Electronic News, 7/8/2008 Mega conglomerate Siemens AG will cut nearly 17,000 employees as it looks to save $1.9 billion (1.2 billion Euros) by 2010. The layoffs will include 12,600 administrative jobs, as well as another 4,150 positions involving restructuring projects at its various units, for a total of 16,750 position cuts, equal to about 4% of the Munich, Germany-based company’s current 400,000 global employee base. Further, Siemens said by 2010 it will consolidate its 1,800 separate businesses to less than 1,000 and take its 70 regional companies and transform them into 20 regional “clusters” as part of its restructuring. “The speed at which business is changing worldwide has increased considerably, and we’re...
[read full story]
Your Web Site
