3'000 to go from Siemens

The entire industry division employs roughly 100'000 workers around the world, and it is aiming for an increase in productivity of EUR 1.1 billion, by the end of 2014, Siegfried Russwurm, CEO of the industry sector at Siemens AG, explained during an investor presentation. The company looks to achieve a 14 % profit margin – through cost savings and the integration of recently acquired software maker LMS. However, some units are, according to the company, keeping them from achieving its goals. The lightning unit in Osram is being spun-off, and the company is looking for byers for its airport luggage system businesses as well as water technology and mail automation. Germany will be hit with the reduction – the four mechanical drives factories that exists in Germany will go down to two – reducing the workforce by 500, and an additional 200 positions being exported to the Czech Republic. The plant in India will loose 140 positions and in Pakistan 170 positions as the company closes a plant. Some 500 jobs at the units headquarters will also go as savings initiative aims to streamline its administrative operations, further more – 1'700 sales positions will be cut.