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Siemens plans to cut 16,750 jobs
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by renovatio | July 8, 2008 at 05:33 pm
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In Indonesia, Siemens product isn't that famous compare to Nokia.
Siemens plans to cut 16,750 jobs worldwide as the German conglomerate streamlines its operations to weather the economic downturn.
The company employs around 400,000 staff worldwide. The cuts amount to about 4% of the workforce.
Siemens issued a profit warning in March and its shares have fallen almost 35% since the beginning of the year.
The firm plans to eliminate 5,250 jobs in Germany, where around 136,000 of its workforce is located.
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at 17:37 on July 8th, 2008
More job cuts! Thanks for this.