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German engineering firm Siemens cuts thousands of jobs

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German engineering firm Siemens cuts thousands of jobs


German firm Siemens has confirmed it is to cut 7,800 jobs worldwide.

The statement from Europe’s biggest engineering company, announcing the losses said the move was to streamline administrative functions and overhead costs.

About 3,000 positions will go in Germany, most of them white collar workers. The cuts, which represent about two percent of the workforce, had been expected.

Chief executive Joe Kaser announced last year that the company needed to eliminate jobs in a bid to slash about one billion euros in costs, to combine some of its divisions and to refocus its business portfolio.

Siemens is active in several sectors including energy, medical equipment, scanning systems for industry and in transport.

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