Siemens to cut 1,000 jobs

Siemens could cut about 1,000 jobs at its telecoms equipment unit in Germany, it said on Friday, taking another step in a gradual restructuring of its ailing Com unit to adjust to harsh market conditions.
The German industrial conglomerate, which employs about 54,500 staff world-wide at its Com unit, said technological changes in the telecoms industry had led to a dwindling need for capacity in production, assembly and maintenance.
"The reduction of jobs is inevitable because Siemens must achieve a cost position that befits international price competition," Siemens said in a statement.
The group's Com unit reported reduced operating income on Thursday of just 27 million euros ($34 million) for the quarter to end-March on sales of 3.383 billion euros.
Siemens said the job losses would be in administration, marketing and development.
A Siemens Com spokesman declined to elaborate, or to say whether jobs would also be cut abroad.