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 | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |