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More yellow leafs
  • Vitaliy_KiselevVitaliy_Kiselev

    Siemens AG (SIE)’s new Chief Executive Officer Joe Kaeser is widening job cuts from an initial plan.

    The company will eliminate 15,000 posts, a third of the reduction will come in the German home market, Oliver Santen, a Siemens spokesman, said by phone yesterday. He declined to give more regional details. Siemens, Europe’s largest engineering company, had first projected some 8,000 job cuts globally, a person familiar with the program told Bloomberg in October 2012

    Toshiba said on Monday it would cut 50 percent of staff in its loss-making TV unit and cease production at two of its three overseas factories before the end of this fiscal year.

    Toshiba said it would increase outsourced production to 70 percent from 40 percent and reduce its global staff in the division by 3,000, with two-thirds of those positions overseas. In July it said it would move 400 staff, included in that figure, to other business units.

    Clearly fast improvement across all sectors.

  • 5 Replies sorted by
  • matt_gh2matt_gh2

    @Vitaliy_Kiselev Yellow leafs?...I guess that's the opposite of "green shoots" economically?

  • Vitaliy_KiselevVitaliy_Kiselev

    @matt_gh2

    It is "green shoots" but at another stage :-) This ones are falling down.

  • matt_gh2matt_gh2

    Cool - never heard that phrase before. Wish I wasn't so busy - economics/finance would be interesting topic to study.

  • nomadnomad

    Where? The universities that produced masses of proud MBAs and other economics/finance specialists in recent years made them for just the system that's failing now…

  • Vitaliy_KiselevVitaliy_Kiselev

    Industrial conglomerate Siemens on Thursday announced thousands of job cuts worldwide, most of them in its fossil fuels division, with unions and politicians in its home country Germany particularly outspoken against the plans.

    A total of 6,900 workers are set to lose their jobs, around half of them in Germany, where Siemens also plans to close sites in the country's economically weaker east.

    In Germany, that division alone will shed 2,600 jobs and close sites in Goerlitz and Leipzig. Some 1,100 jobs are set to go in the rest of Europe, while the US will see 1,800 layoffs.

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