Siemens to cut 15,000 jobs by end of 2014

The German engineering giant Siemens has said it plans to cut 15,000 jobs from its workforce by the end of 2014. However, the company has said it hopes to make the cuts without actually putting anyone out of work. A spokesman for the Munich-based company told news agencies on Sunday that around 5,000 of the jobs cuts would come in Germany, with the remaining 10,000 slated for Siemens facilities located abroad.

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