Search Menu
Photonics Media Photonics Buyers' Guide Photonics EDU Photonics Spectra BioPhotonics EuroPhotonics Industrial Photonics Photonics Showcase Photonics ProdSpec Photonics Handbook
More News
Email Facebook Twitter Google+ LinkedIn Comments

Siemens Cuts 2,000 Telecoms Jobs
May 2001
FRANKFURT, Germany, May 10 -- Siemens AG said it will cut an additional 2,000 jobs from its ICN fixed network business, bringing the total number of jobs lost at the unit as part of a cost-cutting drive to 5,500. The German electronics and engineering group also said it would cut back start-up costs at its US broadband and optical networks units as part of a package of measures to ensure the Information and Communication division meets profitability targets set last December.

Total cost savings at the ICN unit are expected to reach 800 million euros. The worsening climate in the telecoms equipment market hit Siemens second quarter results last month, forcing the group to suspend its previous forecast that earnings growth would outpace sales in 2001.

The latest job cuts follow 2,600 job losses at the ICM mobile unit, bringing the total so far to 8,100.

CommunicationsindustrialNews & Features

Terms & Conditions Privacy Policy About Us Contact Us
back to top
Facebook Twitter Instagram LinkedIn YouTube RSS
©2018 Photonics Media, 100 West St., Pittsfield, MA, 01201 USA,

Photonics Media, Laurin Publishing
x We deliver – right to your inbox. Subscribe FREE to our newsletters.
We use cookies to improve user experience and analyze our website traffic as stated in our Privacy Policy. By using this website, you agree to the use of cookies unless you have disabled them.