Siemens Trimming 5,000 Telecom Jobs
MUNICH, Oct. 15 (Reuters) -- Siemens AG said it plans to cut an additional 5,000 jobs from its loss-making fixed line networks business, bringing the total number of jobs shed at the unit this year to more than 10,000.
The German technology giant, which said earlier this year it planned a sweeping reorganization of the Information and Communication Networks (ICN) business, said it aimed to close half of the network unit's worldwide production plants.
It said it expected to achieve savings of at least two billion euros ($1.82 billion) from the combined package of measures planned for the business.
LATEST NEWS
- 3D Printing High Quality Optics with Blurred Light
May 20, 2024
- Photon Momentum Creates Electron Interaction for Use in Optoelectronics
May 20, 2024
- Active Surfaces Secures $5.6M in Funding for Solar Tech: Week in Brief: 5/17/24
May 17, 2024
- Quantum State Opens Possibility for Advances in Optoelectronics
May 17, 2024
- LED Display Guides Surgery with Real-Time Visuals of Brain Activity
May 16, 2024
- George Mason University Receives Air Force Funding for Imaging, Digital Twins Lab
May 16, 2024
- Intel Appoints Vice President, General Manager of Foundry Arm: People in the News: 5/15/24
May 15, 2024
- Agreements Fortify NVIDIA's Role as Global Partner in Quantum Supercomputing
May 15, 2024