Siemens cuts jobs worldwide

Siemens confirmed today that in excess of 11,000 jobs would be affected worldwide by a restructuring plan unveiled by Joe Kaeser, Siemens' Chief Executive.

However, not all of the positions will be cut, some of them will be transformed. Kaeser made it clear at a conference in New York that the end of the company's sector-based structure would affect more than 7,500 jobs worldwide.

“For now, Mr. Kaeser has only said how many positions are affected by the organizational restructuring. Removing jobs in one area does not necessarily have to mean job cuts,” part of an official email sent by Siemens' spokesman.

Siemens, Europe's largest engineering company want to cut its cost with 1 billion euros. Rumors say Kaeser want to cut certain jobs at the Munich-based Siemens facility. The rumors came out after Siemens' Chief operator guaranteed French government no cuts will be made in the country.

Siemens is already under the process of reducing the costs and cutting 15,000 jobs, 5,000 of which are in Germany.