German engineering company Siemens has reportedly decided to axe up to 15,000 jobs worldwide by the end of 2014.
A spokesman for the company said that the job cuts will not necessarily mean that all the workers will lose their jobs, since some could be transferred to other departments.
According to news.com.au, the company wants to cut 5,000 jobs in Germany and another 10,000 jobs abroad.
A Siemens spokesman, whose name was not given, told dpa the cutbacks will not necessarily mean that all the workers will lose their jobs, since some could be transferred to other departments.
The report said that the company has around 370,000 employees and makes a wide range of industrial machinery, including trains, power generators and transmission equipment, and medical scanners.
——-ANI