Regular
reports on the growing Poverty, Unemployment, Debt and Inequality of
the neo-capitalist world
Germany:
“German
Industrial machinery maker Siemens has said it will slash 7,800 jobs
worldwide as part of a restructuring plan aimed at saving almost one
billion euros (USD 1.14 billion).”
“'In a
drive to streamline administrative and overhead functions, about
7,800 jobs are to be cut worldwide, including some 3,300 in Germany,'
the company said in a statement released on Friday.”
“Joe
Kaeser, the chief executive of Siemens, revealed the plan in May 2014
in a bid to greatly reduce both the number of divisions and hierarchy
levels within the Munich-based giant by 2016.”
“Siemens,
which employs nearly 341,000 staff in more than 200 countries, said
last month that the company’s net profit fell by 25 percent to
1.095 billion euros ($1.2 billion) in the last three months of 2014.”
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