Siemens says to cut 4,200 jobs at IT unit
FRANKFURT, March 19 |
FRANKFURT, March 19 (Reuters) - Germany's Siemens (SIEGn.DE) unveiled on Thursday plans to cut 4,200 jobs worldwide at its information technology unit SIS by autumn of next year.
A statement said the figure includes around 2,000 in Germany and the unit will be become an independent legal entity by October 2010.
It said Siemens would also invest an additional amount of more than 500 million euros ($683 million) into the business.
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