Siemens

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
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
5,400 - 6,400 jobs
Number of planned job losses
Job loss
Announcement Date
19 September 2005
Employment effect (start)
1 October 2005
Foreseen end date
30 September 2006

Description

The new chairman of Siemens AG, Klaus Kleinfeld, has announced far-reaching restructuring of the group in order to raise productivity and profitability. The IT-services sector SBS and the communications department will be worst-affected. More than 5,000 jobs will be lost. Siemens has already launched several restructuring efforts in its various business line in 2005.

Sources

  • 19 September 2005: Financial Times Deutschland (www.ftd.de)

Citation

Eurofound (2005), Siemens, Internal restructuring in Germany, factsheet number 62255, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62255.