Siemens Sketches Savings Efforts as Job Cuts Said to Reach 8,000

Siemens Sketches Savings Efforts as Job Cuts Said to Reach 8,000

Chris Ratcliffe/Bloomberg

While Chief Executive Officer Peter Loescher said redundancies are not the main focus, Siemens AG has identified about 8,000 potential cuts globally, and the number that may reach 10,000 by year-end, a person familiar with the plan said.