Siemens to cut 20% of Munich jobs

According to the newspaper, Peter Löscher is to lay off around 900 staff in Munich. In Erlangen, the Group plans to cut 1290 jobs. The report continues with stating that Regensburg will lose 33%, Bielefeld 28% and the facilities in Kassel and in Kiel both will lose about 50% of their staff. It is also stated that - despite being previously announced - the majority of job cuts will affect the lower levels and not the middle and upper management. "There can be no question about the fact that leadership positions will not be affected," the newspaper cites members of the workforce.