Siemens cuts management jobs in Germany

The bulk of the jobs to be cut by Siemens in Germany would focus on managers and not ordinary workers, the firm's CEO said.

An Associated Pres report further quoted Siemens CEO Peter Loescher saying that Siemens plans to reduce the 2,300 managers it has in Germany by about 8% and the number of middle-level managers by about 4% from the current 23,000.

The number of non-manager jobs to be cut from its 100,000 German work force is about 3 %, or around 3,000 jobs, the report said.

Siemens said it will cut 16,750 jobs, or 4.2% of its global work force, to streamline operations and slice nearly €1.24 billion (US$2 billion) in costs in the face of a slowing economy.

Loescher did not discuss how the global cuts would be divided between managers and workers but when the company announced the move, it said the total cuts would be aimed at mostly adminstrative-level employees.

The Munich-based maker of products ranging from light bulbs and medical equipment to high-speed trains and power turbines said the cuts would include 12,600 global administrative jobs as well as another 4,150 positions involving restructuring projects at its various units.

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