The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
1,400 jobs Number of planned job losses
Announcement Date
22 July 2009
Employment effect (start)
1 September 2009
Foreseen end date
31 December 2009
Description
Siemens AG, a global electronics and electrical engineering company, is to cut 1,400 jobs by the end of 2009. The job cuts will mainly affect the company's sites located in Germany, Sweden, Switzerland and United Kingdom. According to the company, the workforce's reduction is necessary in order to achieve the 2009 earnings' objectives. In the next weeks the company will meet the trade unions in order to reduce the negative social effects due to the job cuts. Siemens AG has around 430,000 employees worldwide.
Sources
22 July 2009: Il Diario del lavoro
22 July 2009: Bloomberg
Citation
Eurofound (2009), Siemens AG, Internal restructuring in World, factsheet number 69306, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69306.
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