Siemens AG, Berlin, Germany, said this week it will cut 4,500 more jobs, on top of the 7,400 it announced last year, as part of a restructuring plan. Siemens employs more than 300,000 people worldwide. The restructuring is part of a plan by Joe Kaeser, chief executive since July 2013, to streamline the conglomerate by reducing the number of divisions and the hierarchy within them to save €1 billion and boost profitability.
IndustryWeek: Siemens to Cut 4,500 Jobs Worldwide
About the Author
Doug Chandler, Senior Staff Writer
Executive Editor
Doug Chandler began writing about the electrical industry in 1992, and still finds there's never a shortage of stories to be told. So he spends his days finding them and telling them. Educationally, he's a Jayhawk with an English degree. Outside of work, he can often be found banging drums or harvesting tomatoes.