World Economy

Siemens to Slash 7,800 Jobs

Siemens to Slash 7,800 JobsSiemens to Slash 7,800 Jobs

The German electronics firm Siemens announced it was slashing 7,800 jobs globally. Most of the job losses will occur among white collar administrative workers, while 1,200 positions in the company’s energy sector will be eliminated. Of the total, 3,300 jobs are to be shed in Germany. Last May, the company announced that a total of 11,600 jobs would be affected by the company’s restructuring.