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Siemens to eliminate nearly 2,000 jobs

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Siemens to eliminate nearly 2,000 jobs
Photo: DPA
11:48 CET+01:00
The German industrial group Siemens said Thursday it would eliminate around 1,990 German jobs in its machine tool and industrial services activities.

"Siemens intends to minimise the social impact of the planned workforce reductions to the greatest extent possible," a statement said.

The move comes amid restructuring of industrial units, with activities at Siemens's low voltage motors group to be concentrated in Mohelnice, in the Czech Republic, the statement said.

In the Industry Solutions Division, a slump in capacity utilisation would force Siemens to cut back "in order to remain competitive on a long-term basis," unit head Jens Wegmann said.

Siemens announced the cuts shortly after Germany's Federal Labour Agency said that unemployment had jumped in January to 8.6 percent of the workforce, with a total of 3.617 million unemployed.

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