Siemens chief executive Heinrich von Pierer on Saturday rejected trade union claims that the German industrial giant planned to cut thousands of jobs, a German magazine reported.
Von Pierer told Der Spiegel magazine in an interview released ahead of publication on Monday that the company wanted to secure workers' jobs in Germany.
"The figures have been pulled out of thin air. Our aim is to secure as many jobs as possible in Germany," Von Piered said.
On Friday, giant trade union IG Metall intensified its rhetoric against Siemens, telling workers' representatives the group was betraying its German roots by threatening to move jobs abroad.
Trade union vice-president Berthold Huber said the company, one of high-wage Germany's biggest private employers, was putting short-term economic gain before sustainable corporate policy.
But Von Pierer told Der Spiegel the company needed to be close to its customers in growth markets such as China.
"If we don't do that, it will damage our global competitiveness and if that happens, we risk losing many more jobs in Germany".
Siemens has said around 5,000 German jobs could be outsourced or relocated unless some staff accept a longer working week without extra pay or forfeit Christmas and other holiday bonus payments.