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Siemens plans job cuts at costly unit

Make a loss, lose your job - it's harsh but not uncommon...

By Sonya Rabbitte

Published: 3 August 2001 14:49 BST

Siemens is planning further job cuts at its troubled Information and Communication network division in a bid to save E2bn (£1.2bn).

Siemens chief executive Heinrich Von Pierer has set the cost savings target for the unit after it last week reported the highest third quarter losses in the company.

Siemens has already axed 5,500 jobs in the division, over 10 per cent of its 53,000 work force, and another 5,000 jobs are on the line when new ICN head Thomas Ganswindt takes the helm next month.

Former division head Roland Koch left after the dismal results.

In other news Siemens Dematic, the company's conveyor system technology division has won a E250m (£154m) contract with Spanish Airport Management to build flight baggage handling systems.

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