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Siemens' 6B Euro Cost-Cutting Plan

Thu, 11/08/2012 - 12:11pm
Reuters

German engineering giant Siemens unveils a 6 billion euro cost-cutting plan, more than expected, as it fights to stay competitive in a weak global economy. Some German media reports suggest up to 10,000 jobs could go. Siemen's chief Peter Loescher wouldn't confirm the numbers, but said job losses were inevitable.

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