Siemens Com

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Berlin, Munich
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
1,350 jobs
Number of planned job losses
Job loss
Announcement Date
31 January 2005
Employment effect (start)
Foreseen end date

Description

German technologies group Siemens has announced plans to cut 1,350 jobs worldwide in its communications division, Siemens Com. Siemens has said the cuts are necessary to solve its problem of over-capacity in the division, saying that the expected turnaround in the fixed-line network sector had not emerged. In the last quarter, the division only met its targets thanks to the sale of its stake in US telecommunications equipment manufacturer Juniper Networks. Germany is quite affected by the plan with the loss of 700 jobs.

Sources

  • 31 January 2005: Financial Times Deutschland

Citation

Eurofound (2005), Siemens Com, Internal restructuring in World, factsheet number 61176, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61176.