World Economy

Siemens to Cut 7,800 Jobs

Siemens to Cut 7,800 JobsSiemens to Cut 7,800 Jobs

German engineering giant Siemens said Friday it was slashing 7,800 jobs worldwide, more than 3,000 of them in Germany, as part of an ongoing restructuring plan aimed at saving about one billion euros, AFP said. “In a drive to streamline administrative and overhead functions, about 7,800 jobs are to be cut worldwide,” the company, which employs more than 300,000 staff, said.