Siemens Job Cuts: 8100 employees to be lay off: Finance Trading Times

Siemens Job Cuts: 8100 employees to be lay off

The bad news is not stopping for the employees in various sectors. Siemens, a major company in telecom sector, has deiced to got for a job cut or layoff. In India, it was TCS which went for a TCS layoff following TCS salary cuts. Then it was IBM which axed 700 jobs across all over India. Then, it was the turn of British Petroleum (BP) and Virgin to go for a job cut in UK. And now, it’s Siemens which is heading for a massive job cut.

As per the news, Siemens plans to announce that may go for up to 7,000 job-cuts, or 40 percent of the workers in its troubled business telecommunications unit in Germany and Brazil.

According to the news, the top rung of Siemens is expected to announce plans to cut up to 4,000 jobs in the unit, which employs 17,500, and advise the worker representatives that a further 3,000 jobs could be transferred into ventures with new business partners.

The layoffs could occur in Leipzig, Germany, and in Brazil, where Siemens has factories that produce phones and corporate communications networks, the person said. About half of the 4,000 layoffs will be in Germany, this person added. Table of Contents
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