May 30 Siemens AG's chief executive
said the European giant will cut 11,600 positions as the company
reduces costs by about 1 billion euros ($1.36 billion),
Bloomberg reported on Friday.
Some 7,600 will be cut through streamlining and the creation
of a new divisional structure, and another 4,000 from regional
clustering, it reported, citing CEO Joe Kaeser as saying in a
webcast conference from New York on Wednesday.
Kaeser said some employees will be assigned other roles,
Bloomberg said. (link.reuters.com/vac79v)
"A certain amount of people do stuff for co-ordinating
things, analyzing things," said Kaeser. "About 20 percent of
those we believe can be put to work elsewhere, but not there.
They can be taken out of the system because the work goes away."
Siemens unveiled a long-awaited restructuring earlier this
month in a drive to catch up with more profitable competitors.
As part of the overhaul, dubbed "Vision 2020" the company
said it was taking out a layer of management by cutting back to
nine core divisions, publicly listing its hearing aid business
and separating out management of its healthcare business.
($1 = 0.7345 Euros)
(Reporting by Aashika Jain in Bangalore; Editing by Eric Walsh)