Siemens to cut 7,800 administrative jobs worldwideFebruary 6, 2015 - 16:47 AMT PanARMENIAN.Net - Industrial machinery maker Siemens AG says it will cut 7,800 administrative jobs worldwide as part of an effort to streamline the sprawling company and its many businesses, the Associated Press reports. Munich-based Siemens said in a statement Friday that 3,300 of the job losses will be in Germany. Siemens CEO Joe Kaeser said the cuts were part of an ongoing restructuring whose aim was to "get the company back on a sustainable growth path and close the profitability gap to our competitors" Siemens said the cuts would save 1 billion euros ($1.14 billion) this year alone that the company could put into growth initiatives such as research and development. As a result, it said overall head count would remain roughly the same. Siemens had 341,000 employees at year-end in more than 200 countries. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |