Siemens to cut 16,750 jobs
Industrial conglomerate Siemens AG said Tuesday it would cut 16,750 jobs, or 4.2 percent of its global work force, to streamline operations and cut nearly $2 billion in costs in the face of a slowing economy.
Industrial conglomerate Siemens AG says it will cut about 1,100 jobs in its energy division in Germany over the next two years amid a wider cost-cutting effort.