Siemens Said to Plan 7,400 Job Cuts as CEO Reduces Costs
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Siemens AG plans to cut about 7,400 jobs worldwide as Chief Executive Officer Joe Kaeser tries to reduce costs at Europe’s biggest engineering company, said a person familiar with the matter.
The cuts, representing about 2 percent of Siemens’s global workforce, may be announced as early as this week, two people said, asking not to be identified as the plan is not public yet. About 3,300 of the job reductions may affect Siemens’s German operations, two people familiar with the matter said. A Siemens representative declined to comment.