Siemens and Marconi plan more staff cuts
Siemens plans by end-September 2003 to cut more than 4,000 jobs at its IC Networks fixed-line telecoms-equipment-making unit (to 33,700 staff) plus 700 at its IC Mobile cell-phone and wireless-network equipment making unit.
IC Networks had already announced three rounds of jobs cuts since April 2001, cutting 16,500; IC Mobile has cut 4,600, including temporary staff.
At the beginning of August the cuts were said to be made by end-September 2003, but three weeks later this was brought forward to "the end of 2002".
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).
Also, UK telecoms equipment maker Marconi, which has cut its global workforce by more than half over the last year (from about 50,000 to 20,000), is shedding another 1,000 jobs in the UK, leaving about 7,000 UK staff (down from 15,000 just over a year ago).