Siemens has announced it is to cut 4,200 jobs in its IT division by 2011, with 2,000 of the job cuts in Germany.
The redundancies from Siemens 35,000-strong IT workforce worldwide come as the German firm aims to reorient its IT business.
Siemens said it hoped to “exhaust all possibilities for voluntary measures and to implement the cutbacks in as socially compatible a way as possible”. The company said such measures will include the termination of employment contracts by mutual consent or the non-renewal of temporary contracts.
Siemens said the required consultations with employee representatives will be initiated immediately.
The Munich-based company announced the carve-out of its IT division in December 2009 and hopes to have taken all the necessary steps to achieve this by the start of its new fiscal year on 1 October 2010.
Article courtesy of Businessandleadership.com
Photo: Some 2,000 of the 4,200 jobs Siemens is to cut in its IT division by 2011 will be in Germany