Siemens to cut 16,700 jobs, 2,800 in healthcare

German industrial conglomerate Siemens of Erlangen today announced it will reduce its global workforce by some 16,700 jobs in a mix of layoffs and restructurings.

The company's Siemens Healthcare division will lose approximately 2,800 jobs worldwide. Plans are to eliminate 600 healthcare positions in Germany, 650 jobs elsewhere in Europe, and 1,550 positions outside of Europe.

Approximately 1,550 healthcare job cuts will be in administration-related functions. A maximum of 1,250 additional layoffs will come primarily from the Imaging & IT and Workflow & Solutions divisions.

Siemens announced last November its intention to reduce sales, general, and administrative costs to what the company described as a "competitive level." Plans now call for reducing costs by 1.2 billion euros (approximately $1.9 billion U.S.) by 2010.

Some expense reductions will come from lower expenditures for IT infrastructure and consultants. Savings in personnel also are part of the program to reduce costs now that the company has streamlined its top management level. Siemens' managing board has been reduced from 11 members to eight.

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