IE 11 is not supported. For an optimal experience visit our site on another browser.

Siemens to slash 3,000 jobs at IT unit

German electronics company Siemens AG said Friday it will cut 3,000 jobs its at information technology unit Siemens Business Services, increasing the cuts from the 2,400 announced in September.
/ Source: The Associated Press

German electronics company Siemens AG said Friday it will cut 3,000 jobs its at information technology unit Siemens Business Services, increasing the cuts from the 2,400 announced in September.

Company spokesman Wolfram Trost said the cuts would come at its operations outside of Germany. The company did not disclose where the cuts would take place.

Siemen's IT unit has been hurt by overcapacity and fierce competition in the IT services industry. Earlier this week, it reported an operating loss of $807.09 million in fiscal year 2005.