Germany-Economy-Siemens
German electronics giant Siemens is to slash some 16,750 jobs worldwide, including 5,250 in Germany, aimed at saving billions of euros in costs in its distribution and
administrative sectors, news reports said Tuesday.

Around 12,600 jobs at Siemens will be cut by 2010, while the 4,150 remaining jobs will be axed as part of restructuring measures.

The downsizing of the Munich-based corporation will primarily affect its energy, medical technology, and industrial divisions at its German plants in Munich, Nuremberg, Berlin and Erlangen.

Last February, Siemens had already announced it was going to slash up to 3,000 jobs geared at enticing potential bidders to buy its Enterprise Communications division (SEN).

The job cuts focused mainly on SEN's administration and production sector which employs around 6,200 people in Germany.

SEN is involved in the delivery of phone and other communication systems to firms.