Reports: Germany's Siemens to slash work force by 4 percent, cutting 17,200 jobs globally

[Pale Blue Dot]

Source: Yahoo Finance

FRANKFURT, Germany (AP) -- Conglomerate Siemens AG, wracked by a wide-ranging corruption scandal, will cut up to 4 percent of its work force worldwide, or about 17,200 jobs, a pair of newspapers reported Saturday.

The Sueddeutsche Zeitung reported that the Munich-based company was set to shed the jobs -- mostly white-collar and administrative -- without citing any sources. The Wall Street Journal also reported a similar figure, citing a person who was familiar with the matter.


In February, Siemens said it would reorganize its corporate telecom unit as it prepares to get out of the business, eliminating 3,800 jobs while another 3,000 will be transferred to partners or other units -- its biggest cuts in years.

The new figures reported Saturday were on top of the previously disclosed cuts.

Read more: http://biz.yahoo.com/ap/080628/germany_siemens.html

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The article does not make clear how many jobs will be lost in the U.S.

[Tuesday Afternoon]

1. oh great ! My hometown gets another blow.

And the hits just keep coming :eyes:

[liberal N proud]

2. In January they bought out UGS, a CAD/PLM software player

Some suits sitting around a table sipping whiskey made a poor decision financially and now the little guy has to suffer. AGAIN!