Vladimír Urbánek (Kurzy.cz)
World markets  |  August 21, 2012 13:11:13

Siemens is considering the release of thousands of employees

German industrial conglomerate Siemens, which employs worldwide more than 400,000 people, today announced that due to the uncertain outlook due to weak economic development, especially in Europe, is considering the possibility of cancellation of thousands of jobs in order to reduce costs.

Company in 2Q had seen very strong results with earnings growth of 60% to 1.8 mld.EUR, but recently faced a dramatic decline in new orders, which threatens the outlook for results in other periods of the year. The drop in demand is likely to mainly European debt problems, which increase caution potential clients postpone their planned investment.

Negotiations on the reduction of under management still at an early stage and can not therefore be quantified in any way.
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