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Siemens Job Cuts to Hit EAS Unit

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Siemens Job Cuts to Hit EAS Unit

Written by Mike Buetow
Friday, 27 June 2008
MUNICH– Siemens AG will cut up to 15,000 jobs, including as many as 330 at its Electronics Assembly Systems unit, according to several news outlets. A Siemens spokesman declined comment, reportedly saying, 'We will comment on this in due time.” German business daily Handelsblatt reported the layoffs figures, suggesting they came from Siemens’ labor union representatives. Siemens is trying to reduce its overhead by 10% by 2010 to save €1.2 billion. The company employs 435,000 workers worldwide. Meanwhile, Forbes today reported Siemens would trim 330 jobs worldwide at its Electronics Assembly Systems unit, 250 cut in Germany. That’s about 16.5% of the unit’s 2,000 workers worldwide. Attempts to reach the company for comment were not yet returned.

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