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Siemens to cut 1,200 jobs

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10:57 CEST+02:00
The German engineering group Siemens said Tuesday it would cut 1,200 German jobs in its telecoms equipment unit as part of a major restructuring programme announced in February.

The move concerns Siemens Enterprise Communications (SEN), where 300 workers would be offered a pre-retirement package while 900 others would be able to join a "transfer company" for two years, a statement said.

During that time they would receive 85 percent of their former salary and receive job training financed by Siemens, it added.

A total of 6,800 jobs were to be eliminated worldwide from the unit's total workforce of 17,500 people, according to the plan announced in late February.

That included 3,800 outright cuts, with the rest to be transferred when Siemens sold the activities concerned.

The loss-making SEN division offers communications systems including telephone, fax and Internet access to businesses.

Financial director Joe Kaeser said in February that Siemens would abandon production of telephones, terminals, modems and telecommunications cabling to focus on the supply of software and services and that the job cuts would cost the group between €100-500 million.

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