Siemens considers more job cuts

7 August 2002 -- Siemens is said to be planning to cut more than 4,000 jobs at its ICN fixed-line telecoms-equipment unit plus 700 at its ICM wireless unit.

Aug 7th, 2002

7 August 2002 -- Wolfgang Mueller, an official with trade union IG Metall (which is represented on Siemens AG's supervisory board) said in the German newspaper Frankfurter Allgemeine Zeitung earlier this week that Siemens plans by end-September 2003 to cut more than 4,000 jobs at its Information and Communications Networks fixed-line telecoms-equipment unit (to 33,700 staff) plus 700 at its Information and Communications Mobile cell-phone and wireless-network equipment unit.

IC Networks has made three rounds of jobs cuts since April 2001, cutting 16,500; IC Mobile has cut 4,600, including temporary staff.

In the quarter to end-June IC Networks lost EUR84m (down from EUR563m a year ago), though it expects a restructuring charge of over EUR100m. IC Mobile lost EUR9m (down from EUR511m a year ago).

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