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InkAddict Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-23-10 12:22 PM
Response to Reply #18
50. However:
BRIEF: Siemens confirms 4,200 jobs to be lost at software unit

Siemens, the German engineering group, confirmed Sunday it was downsizing a troubled software subsidiary by 4,200 jobs around the world as of October 1.

The struggle of Siemens IT Solutions
and Services (SIS) in the face of agile competitors from India has contrasted with the recovery to health of Siemens' major divisions which export turbines, trains and hospital equipment.

The layoffs had been announced before, but the new announcement confirmed they were unavoidable. In Germany, 2,000 jobs will go.

http://www.tradingmarkets.com/news/stock-alert/si_brief...
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