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Siemens to cut 15,000 jobs globally

Siemens has announced the elimination of 15,000 jobs  over the next year. Around 5,000 jobs will be cuts in Germany, with the remaining 10,000 cut from Siemens international facilities.

The company expects to reduce the number of jobs by attrition and voluntary severance arrangements.

"A reduction in one area doesn't necessarily mean the actual loss of a job," the spokesman told the DPA news agency, saying that in many cases, workers who saw their jobs eliminated would be offered alternative positions within the company.

Siemens Industry Division in Germany will see 2,000 jobs eliminated; the Energy Division will lose 1,400; the Infrastructure Division will lose 1,400 and the Corporate Division will cut 200.

The cuts are part of Siemens 6 billion euro cost cutting programme aimed to help the company meet its core operating profit targets.

As of last year, Siemens employed around 370,000 workers, 119,000 of them were in Germany.

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