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Siemens Trimming 5,000 Telecom Jobs
Oct 2001
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.

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