Siemens, the giant German engineering and Technology company is to cut thousands of jobs at loss-making divisions.
Siemens plans to shake up management and cut 2,400 jobs at its IT services unit known as SBS. Speculation is rife that SBS could be seeking a strategic partner such as Atos Origin, IBM or EDS.
Further unspecified job losses will take place at the communications division, the company's largest, while the industrial logistics unit will be broken up.
Thus Klaus Keinfield, Siemens newish CEO contiues the shake up of Siemens following his sale of their mobile telephone unit to BenQ, the Taiwanese electronics maker this June.
It seems somehow ironic that Germany's industrial giant should announce yet another round of job cuts to try and improve the ailing business a day after the country's elections, in which unemployment and job security played a dominant role.
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