Siemens to cut thousands of jobs as part of new strategy -report
FRANKFURT, April 28
FRANKFURT, April 28 (Reuters) - A new strategy to be unveiled by Siemens on May 7 will include thousands of job cuts, Germany's Manager Magazin Online reported on Monday, citing several senior Siemens managers.
It said the strategy would see Siemens' four main divisions - Industry, Energy, Healthcare and Infrastructure & Cities - dismantled, creating a flatter hierarchy and resulting in job cuts of roughly between 5,000-10,000.
It also said Siemens would announce an acquisition in the energy sector worth at least 1 billion euros ($1.38 billion), separate to the deal with Alstom currently being considered by Siemens.
The sale of its postal automation and baggage handling business will also be announced in May, Manager Magazin said.