On Tuesday, July 8, Peter Löscher, CEO of Siemens, announced that his company intended to cut 16.750 jobs, 5.250 of which in Germany, by 2010. The plan mostly concerns the administrative and sales departments. In addition, the groups want to part with its "peripheral" activities. In Germany, the Erlangen, Munich, Nuremberg and Berlin sites are particularly affected. (Ref. 080573)
According to Peter Löscher, the large restructuring announced on July 8is the result of the internal reorganization plan, with three large units (industry, energy and health), and the need to “catch up with” competitors, notably in terms of profits. “We need to act now and cut our costs to be able, when competition gets fiercer, to concentrate on getting new customers” he explained. Because of the reorganization, many jobs have become redundant. Therefore, Siemens announced that 16.750 jobs wou
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