German industrial giant Siemens plans to eliminate around 11,600 jobs around the world as part of a major restructuring, a company spokesman says. 
“These jobs will be cut,” the spokesman told AFP on Friday, confirming remarks made by chief executive Joe Kaeser to a conference of investors and analysts in New York on Thursday.
The spokesman said some staff may be redeployed in company “divisions that will be reinforced,” without providing further details.
“It is not yet clear how many people will be recommended for other positions,” he said, adding that the company was in talks with the works council on the restructuring.
Some 7600 positions will be axed as part of a company overhaul announced by Kaeser on May 7 in which 16 divisions will be consolidated into nine and certain levels of hierarchy will be eliminated, the spokesman said.
Another 4000 jobs will be cut as part of a regrouping of regional activities.
Kaeser aims to slash annual costs for the group by 1 billion euros $A1.50 billion per year from 2016.The job cuts come in addition to 15,000 already slashed under a cost-cutting plan.
Chosen excerpts by Job Market Monitor. Read the whole story at Siemens to axe 11,600 jobs | SBS News.
Siemens CEO calls job cut reports incorrect
The chief executive of Siemens said in a note to German staff on Friday that reports the company was planning to cut 11,600 staff were based on an incorrect interpretation of remarks he made to investors.
“The reports are not right and are based on a wrong interpretation,” CEO Joe Kaeser said in the note, a copy of which was seen by Reuters.
via Siemens CEO calls job cut reports incorrect | Reuters.
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