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22 February 2024

Siemens to slash 1,700 jobs in Germany in efficiency drive

By Reuters

German engineering group Siemens announced plans on Thursday to cut 1,700 jobs in Germany over several years and transfer another 1,000 positions as part of an efficiency drive.

Among other, it plans to reshuffle its enterprise IT business, consolidate storage sites at its Digital Factory division, cut jobs at its Mobility business and bundle its training centres, it said in a statement.

It said it also planned to hire around 9,000 new employees in Germany over the same period as the cuts, and would make efforts to retrain as many of the affected employees as possible.