THE MAKER of very precise electronics gear with a nautical sounding name, Siemens is giving nearly 2,000 of its workers their pink slips and P45s.
Siemens said that it is making restructuring and capacity adjustments which actually means getting rid of people.
Apparently the wholesale culling of staff, er, restructuring is because no one wants to buy some of its very precise gear any more.
According to Siemens, as many as 1,140 jobs will be eliminated at its Drive Technologies Division. By the end of 2012, a total of roughly 840 jobs at the division's location in Bad Neustadt an der Saale are to be cut.
At the Division's Erlangen location, some 300 further jobs are to be trimmed. The company will also be slashing about 850 jobs at the Industry Solutions Division, mainly on account of falling market volume.
Siemens' Drive Technologies Division manufactures low-power, low-voltage motors for the European market. These are made mainly in the Mohelnice plant in the Czech Republic.
However there is a slump in volume in the key mechanical engineering market, so jobs must go. µ
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