Siemens confirms massive job cuts at telecom unit
Updated: 2008-02-27 08:09
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BERLIN -- German conglomerate Siemens on Tuesday confirmed previous reports that it plans massive job cuts at its telecom unit.
The company is about to cut 3,800 jobs, including 2,000 in Germany at its telecom unit Siemens Enterprise Networks, Germany's N-TV reported.
Another 3,000 workers, including 1,200 in Germany, will be shifted to other units owned by Siemens or its company partners, the company said.
The cuts will be global and affect nearly 40 percent of the unit's 17,500 workers.
The Munich-based Siemens has been under pressure to sell its telecom unit, which has been losing sales and customers.
The jobs cut is considered a step to make the unit more attractive to potential buyers, said the report.
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