German industrial giant Siemens has said it is weighing cuts of nearly 12,000 jobs around the world as part of a major restructuring.

Chief executive Joe Käser told a conference of investors and analysts in New York on Thursday that a previously announced cost-cutting drive would create “noticeable changes all across the entire organisation”, a spokesman, Michael Friedrich, confirmed.

Some 7,600 positions will be “affected” as part of a company overhaul announced by Käser on May 7 in which 16 divisions will be consolidated into nine and certain levels of hierarchy will be eliminated, Friedrich said.

Another 4,000 jobs are in question as part of a regrouping of regional activities due at the start of the fiscal year on October 1.

However Käser attempted to calm the waters in a letter to staff, insisting that not all 11,600 positions would be slashed.

“I did mention the numbers reported, but at the same time emphasised that positions could be put to work elsewhere,” Käser wrote, according to media reports.

He added that the company was in talks with the works council on the restructuring.

The electrical engineering and electronics behemoth employs over 360,000 people worldwide, making everything from power stations to high-speed trains to medical imaging equipment.

Friedrich said some staff may be redeployed in other Siemens divisions that will be reinforced.

“It’s still too early to provide details on the possible impact on individual locations and departments,” he said… see more

source: the local