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Electronics Production | October 03, 2006

Siemens steps in to help BenQ workers

Siemens has set up a €35 million fund for the employees of BenQ mobile in Germany.

The company's Managing Board is also waiving its approved salary increase for one year to contribute €5 million to the fund, which will provide financial support and pay for employee education and retraining. "If BenQ puts its people on the street, we'll take vigorous action to help them," said Klaus Kleinfeld, President and CEO of Siemens AG. In addition, BenQ Mobile employees will be treated as internal applicants for the more than 2,000 current job openings at Siemens in Germany and actively assisted in finding new jobs. From a strictly business point of view, there were considerably more attractive options at the time. To have closed the business would have been substantially cheaper. The Taiwanese company assured Siemens of its intentions to operate and expand the German locations in the future and presented a credible plan for accomplishing this.
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