Germany’s Siemens says to cut 2,700 jobs worldwide

A file photo taken May 8, 2019 shows the logo at the company headquarters building of German industrial giant Siemens in Munich, southern Germany. — AFP pic
A file photo taken May 8, 2019 shows the logo at the company headquarters building of German industrial giant Siemens in Munich, southern Germany. — AFP pic

FRANKFURT, June 18 — Industrial conglomerate Siemens said today it would slash 2,700 jobs worldwide at its gas and power unit, including 1,400 in its home country Germany, “over several years”.

The division — set for a stock market flotation in 2020 — “will ... require further savings of €500 million” (RM2.33 billion) on top of 7,000 jobs cuts and site closures already announced, the group said in a statement. — AFP

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