Siemens / To cut 15,000 jobs worldwide

The ‘flagship’ German engineering and technology giant plans to shed 15,000 jobs worldwide by late 2014 in a cost-cutting drive.

In Germany, there are expected to be the loss of 2000 jobs in the industry division, 1400 in energy, 1400 in infrastructure and cities and 200 in the corporate division.

In July, Joe Kaeser was appointed chief executive, replacing Peter Löscher, days after the second profit warning in as many months. At the time, chancellor Angela Merkel described the company as a flagship of the German economy.

Siemens has about 370,000 employees worldwide, including 119,000 in Germany. The company is aiming for voluntary redundancies and to redeploy some staff.

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via Siemens AG – Siemens to cut 15,000 jobs worldwide.