Siemens to cut 4,200 jobs worldwide: Company

FRANKFURT: German industrial giant Siemens said on Thursday that it planned to cut around 4,200 jobs worldwide as the group restructures its IT operations.

As part of the "reorientation" of Siemens' IT business, "plans call for eliminating some 4,200 of about 35,000 jobs worldwide by 2011," a statement said.

Around 2,000 of the cuts would come in Germany, it added.