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Siemens efficiency drive leads to massive job losses

Siemens staff in the UK are waiting to see the impact of a worldwide cull of 16,750 jobs within the engineering giant.

A total of 5,250 staff in German will lose their jobs and 5,450 in the rest of Europe as Siemens scales its workforce back by four per cent.

The company has said it is “too early to tell” how many jobs will be lost within UK operations.
Due to direct cuts and restructuring In European operations outside Germany 2,300 jobs will be shed within the industry sector and 2,100 in the energy sector.

The company said job cuts would mainly be focussed on administrative roles. Through job cuts and other efficiency measures the company hopes to reduce costs by 1.2 billion Euros

Peter Loscher, Siemens president and chief executive, said: “The speed at which business is changing worldwide has increased considerably, and we’re orienting Siemens accordingly. Against the backdrop of a slowing economy, we have to become more efficient.”