The American Empire in a Changing World


Friday, October 12, 2012

''Siemens Sketches Savings Efforts as Job Cuts Said to Reach 8,000''

From BusinessWeek

''Siemens AG (SIE) outlined an efficiency plan focused on cost cuts and weeding out laggard businesses, as Chief Executive Officer Peter Loescher seeks to turn around the engineering company after goals for this year slipped.

The program will review Siemens’s marketing approach, simplify processes, eliminate redundant functions and examine units not meeting profit expectations, the Munich-based company said today. The plan will run for two years, and Loescher will provide an update next month when Siemens reports earnings.''

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