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Electronics Firm Continues Job Cuts

Electronics Firm Continues Job Cuts

German electronics firm Siemens AG plans to cut 2,000 jobs at its product servicing unit by the end of next year to eliminate overlaps created by a recent merger and stay in line with falling demand. The new job cuts come on the heels of the 8,100 cuts already announced this year by Siemens at its information and telecommunications branches.
About 1,600 of the new job cuts will come in Germany.
A Siemens spokesman could not say how much money the job cuts would save. But he added that the Munich-based company’s services business, which maintains and repairs computers, is experiencing a fall in demand that has undermined profitability.
Siemens Business Services employs about 33,500 people worldwide and generated sales of about $4.93 billion last year.