Siemens plans to cut 16,750 jobs worldwide as the German conglomerate streamlines its operations to weather the economic downturn.
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The cuts amount to about 4% of the workforce.
Siemens issued a profit warning in March and its shares have fallen almost 35% since the beginning of the year.
The firm plans to eliminate 5,250 jobs in Germany, where around 136,000 of its workforce is located.
The Munich-based engineering group said the cuts will include 12,600 mostly administrative jobs.
"Against the backdrop of a slowing economy, we have to become more efficient," said Peter Loescher, president and chief executive.
The job cuts are part of a scheme to reduce costs by 1.2bn euros ($1.9bn; Ј0.95bn) by 2010.
Siemens said it would only make forced dismissals as a last resort and would offer staff early retirement.
The company has also been grappling with an alleged corruption scandal that involved accepting bribes to win overseas contracts.
(BBC)
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