German industrial conglomerate Siemens has announced it will eliminate 4,200 jobs worldwide in its information technology services unit, as part of a reorganization of the business towards the "promising" solutions areas. The IT business currently employs 35,000 globally. By 2011, about 4,200 of those jobs will be cut. Roughly 2,000 of the job losses will be in Germany, mostly at major company locations such as Munich, Paderborn and the Nuremberg/Erlangen metropolitan area.
"These investments are primarily intended to help Siemens IT Solutions and Services offer customers economical IT solutions to an even greater extent than before," Siemens said in a statement. The solutions business will form the second pillar, along with IT outsourcing, of the SIS organization, which will be considerably simpler, Siemens said.
Source: Market Watch