FRANKFURT, Germany - German industrial conglomerate Siemens AG said Wednesday the company planned to cut jobs as a result of the economic downturn, but didn't specify how many.

Media reports last week said the company would slash up to 4 per cent of its worldwide workforce, or about 17,200 jobs.

Siemens chief executive Peter Loescher and personnel chief Siegfried Russwurm said in a statement that the company would hold discussions with labor... // CanadianBusiness.com

German industrial conglomerate Siemens AG said Wednesday the company planned to cut jobs as a result of the economic downturn, but didn't specify how many.

Media reports last week said the company would slash up to 4 percent of its worldwide work force, or about 17,200 jobs.

Siemens chief executive Peter Loescher and personnel chief Siegfried Russwurm said in a statement that the company would hold discussions with labor representatives and then with employees on the cuts. They said they planned to disclose the size of the cuts publicly next Tuesday at a news conference.

"We're seeing the... // BusinessWeek

The Canadian Press (Enlarge photo)

FRANKFURT, Germany German industrial conglomerate Siemens AG said Wednesday the company planned to cut jobs as a result of the economic downturn, but didn't specify how many.

Media reports last week said the company would slash up to 4 per cent of its worldwide workforce, or about 17,200 jobs.

Siemens chief executive Peter Loescher and personnel chief Siegfried Russwurm said in a statement that the company would hold discussions with labor representatives and then with employees on the cuts. They said they planned to disclose the size of the cuts publicly next Tuesday at a news conference.

"We're seeing... // The Canadian Press

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BERLIN: Siemens AG chief executive officer Peter Loescher confirmed that Europes largest engineering company plans to cut as many as 17,200 jobs by 2010, according to the newspaper Bild-Zeitung .

Loescher, who took the companys helm last July, set the savings goal in November after Siemens reported its first loss in six years, according to reports in the Sueddeutsche Zeitung and Financial Times newspapers.

Siemens spokesman Marc Langendorf... // Malaysia Star

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Full Feed: Available in an... // StreetInsider.com

Siemens AG, which manufactures mobile handsets amongst other products such as medical devices and home appliances, is laying off 17,200 people across its global bases, CEO Peter Loescher has confirmed. more...

Siemens AG, which manufactures mobile handsets amongst other products such as medical devices and home appliances, is laying off 17,200 people across its global bases, CEO Peter Loescher has confirmed. // Siliconrepublic.com

June 30 (Bloomberg) -- Siemens AG , Europe's largest engineering company, may cut more than 17,000 jobs to meet a target to reduce costs by 1.2 billion euros ($1.9 billion), according to a person with knowledge of the plan.

The maker of wind turbines and trains, based in Munich, plans to eliminate about 6,400 jobs in Germany and 12,500 administration posts worldwide by 2010, said the person, who declined to be identified because the matter is confidential. Combined, the cuts are equal to 4 percent of Siemens's workforce.

Chief Executive Officer Peter Loescher set the cost-cutting target in April after Siemens reported a 68 percent drop in second-quarter profit. In his first year, the 51-year-old Austrian has pooled nine divisions into three,... // Bloomberg

June 30 (Bloomberg) -- Siemens AG , Europe's largest engineering company, may cut more than 17,000 jobs to meet a target to reduce costs by 1.2 billion euros ($1.9 billion), according to a person with knowledge of the plan.

The maker of wind turbines and trains, based in Munich, plans to eliminate about 6,400 jobs in Germany and 12,500 administration posts worldwide by 2010, said the person, who declined to be identified because the matter is confidential. Combined, the cuts are equal to 4 percent of Siemens's workforce.

Chief Executive Officer Peter Loescher set the cost-cutting target in April after Siemens reported a 68 percent drop in second-quarter profit. In his first year, the 51-year-old Austrian has pooled nine divisions into three, called energy,... // Bloomberg

Frankfurt, Germany (AHN) - Siemens AG will cut more than 17,000 jobs by 2010, the company's chief told a German newspaper in an interview set to be published Monday. Siemens employs 400,000 worldwide

Siemens CEO Peter Loescher said the cuts were first announced internally last week prior to the word leaking out. But Sunday, Loescher said the reduction was meant to spur increased productivity, focusing on 'less administration, fewer... // Gant Daily

Frankfurt, Germany (AHN) - Siemens AG will cut more than 17,000 jobs by 2010, the company's chief told a German newspaper in an interview set to be published Monday. Siemens employs 400,000 worldwide

Siemens CEO Peter Loescher said the cuts were first announced internally last week prior to the word leaking out. But Sunday, Loescher said the reduction was meant to spur increased productivity, focusing on 'less administration, fewer... // AHN

German engineering group Siemens is to lay off 17,000 workers from its 400,000 workforce, including 6,450 jobs in Germany alone, as part of an effort to save 1.2 billion.

Trade union IG Metall had anticipated only 10,000 jobs as part of a broad revamp of the company's operations. The world economy and oil prices are adding to the pressure to act, CEO Peter Loescher told Bild newspaper. "We have to batten down the hatches," he said. // Register

German engineering and electronics company Siemens plans to cut 17,200 jobs worldwide, most of them white-collar positions, sources say. New CEO Peter Lscher has given the company's plans to a workers' council in advance of a July 7 meeting to discuss the layoffs. Siemens employs about 400,000 around the world. The planned restructuring also includes realigning Siemens' businesses into three divisions for industry, energy and health care.... // SmartBrief

Reeling from a wide-ranging corruption scandal, Conglomerate Siemens Ag will slash up to 4 percent of its worldwide work force (about 17,200 jobs), two newspapers reported Saturday.

The Sueddeutsche Zeitung reported the Munich-based company was set to cut the jobs — mostly white-collar and administrative — without citing any sources. The Wall Street Journal also reported a similar figure, citing a person who was familiar with the matter.

Siemens did not comment on either report, only to say that it did not comment on market rumors.

The German paper said that of the cuts to the company's global work force of approximately 435,000 staffers, some 6,400 could come in Germany, where it employs around 136,000 people.

In March, Siemens issued a profit... // People's Daily Online

    BEIJING, June 30 (Xinhuanet) -- Reeling from a wide-ranging corruption scandal, Conglomerate Siemens Ag will slash up to 4 percent of its worldwide work force (about 17,200 jobs), two newspapers reported Saturday.

    The Sueddeutsche Zeitung reported the Munich-based company was set to cut the jobs ¡ª mostly white-collar and administrative ¡ª without citing any sources. The Wall Street Journal also reported a similar figure, citing a person who was familiar with the matter.

    Siemens did not comment on either report, only to say that it did not comment on market rumors.

    The German paper said that of the cuts to the company's global work force of approximately 435,000 staffers, some 6,400 could come in Germany, where it employs around 136,000 people.... // Xinhua

CONGLOMERATE Siemens AG, wracked by a wide-ranging corruption scandal, will cut up to 4% of its work force worldwide, or about 17200 jobs, two newspapers reported on Saturday.

The Sueddeutsche Zeitung reported that the Munich-based company was set to shed the jobs – mostly white-collar and administrative – without citing any sources. The Wall Street Journal also reported a similar figure, citing a person familiar with the matter.

Siemens said only that it did not comment on market rumours.

The German paper said that of the cuts to the company’s global work force of approximately... // Dispatch Online

(AXcess News) New York - A senior manager with Germany's Siemens AG (NYSE: SI) said Saturday that it would cut 4 percent of its workforce, or 17,200 jobs, due to the global economic slowdown.  Most of the Siemens job cuts is said to be in white collar and administration positions.

AXcess News is unable to verify the exact number of workers that will be laid off, but 6,400 are said to be in Germany where Siemens AG employs nearly 134,000... // AXcess News

Europe's largest engineering company Siemens AG has confirmed media reports that it plans to cut up to 17,200 jobs or 4 per cent of its workforce by 2010, according to Bloomberg .

Earlier it was reported the Munich-based company planned to slash 6,400 jobs in Germany and 12,500 administrative positions worldwide, including upper and mid-level management.

The job cuts come just under a year after Peter Loescher was appointed chief executive... // Business Spectator

Frankfurt: Siemens AG, wracked by a wide-ranging corruption scandal, will cut up to four per cent of its work force worldwide, or about 17,200 jobs, a pair of newspapers reported on Saturday. The Sueddeut-sche Zeitung reported that the Munich-based company was set to shed the jobs - mostly white-collar and administrative - without citing any sources. The Wall Street Journal also reported a similar figure, citing a person who was familiar with the matter. Siemens did not comment on either report, only to say that it did not comment on market rumours.

Seoul: Business sentiment at big South Korean companies has hit its lowest in more than three years due to worries about soaring oil and raw material prices and sluggish domestic consumption, a private survey showed on Sunday. Concern about... // Howrah News Service

FRANKFURT (Thomson Financial) - Siemens AG . Chief Executive Peter Loescher has confirmed media reports saying the German industrial conglomerate plans to cut more than 17,000 jobs worldwide in its administration.

'At the end of last week, we first of all announced our plans to the bodies (of Siemens (nyse: SI - news - people )). Apparently, some of that information has reached the public immediately afterwards,' Loescher told Bild in an interview to be published Monday.

According to dpa news agency, some 6,450 jobs will be cut in Germany.

'We are demanding from management and administration what's self-evident for employees in our factories: productivity and efficiency,' Loescher said, adding that this implies 'less administration, fewer white-collar jobs'.

Loescher said Siemens... // Forbes

FRANKFURT (Thomson Financial) - Siemens AG. Chief Executive Peter Loescher has confirmed media reports saying the German industrial conglomerate plans to cut more than 17,000 jobs worldwide in its administration.

'At the end of last week, we first of all announced our plans to the bodies (of Siemens). Apparently, some of that information has reached the public immediately afterwards,' Loescher told Bild in an interview to be published Monday. // Hemscott

June 29 (Bloomberg) -- Siemens AG Chief Executive Officer Peter Loescher confirmed that Europe's largest engineering company plans to cut as many as 17,200 jobs by 2010, Bild-Zeitung reported in an advance copy of an article in tomorrow's edition.

Loescher, who took the company's helm last July, set the savings goal in November after Siemens reported its first loss in six years, according to reports in the Sueddeutsche Zeitung and Financial Times newspapers. Siemens spokesman Marc Langendorf declined to comment when contacted by Bloomberg News yesterday.

``First we... // Bloomberg