Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland
Advertisement

Siemens cutting more workers' schedules to save cash

Share this article

Siemens cutting more workers' schedules to save cash
Photo: DPA
09:00 CET+01:00
German electronics giant Siemens has announced plans to increase the number of workers on part-time schedules to save money during the recession.

“We believe that part-time schedules are an established strategy for bridging a long period of weakness,” Siemens CEO Joe Kaeser said on Thursday night in Munich, adding that this plan could last up to two years.

The company has already moved 7,400 workers to part-time work and will increase this number “significantly,” he said.

"The global economy finds itself in what is surely the worst crisis since the Second World War," Kaeser said. "The crisis has come to Siemens, but we are not in the crisis."

Many industries have not yet reached the bottom of the recession and Siemens will likely be affected by a shrinking customer base, Kaeser said.

“We will have a smaller market,” he said.

Europe's Leading Job Site for
International Talent - The Local Jobs
Get notified about breaking news on The Local

Share this article

Advertisement

From our sponsors

The business school where students graduate with a ready-made network

Networking and business go hand-in-hand, but how do you go about building a network to begin with?

Advertisement
Advertisement
Jobs
Click here to start your job search
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement