Germany's Siemens pledges no layoffs in home country
German industrial giant Siemens gave an indefinite pledge on Wednesday not to carry out any forced redundancies among its 128,000 workers in its home country.
"This represents a clear and long-term commitment to Germany as a business location. Siemens is a responsible employer. Every single employee is important to us," chief executive Peter Loescher said in a statement.
The 160-year-old firm, which generates annual sales of around 75 billion euros (100 billion dollars) making everything from trains to nuclear power stations, said it would "use every possible means to achieve this aim."
Trade union IG Metall welcomed the announcement, saying: "The new deal gives Siemens employees security and protects them against future changes."
The agreement does not cover the Munich-based giant's some 275,000 employees outside Germany, however, nor those at its troubled IT Solutions and Services (SIS) division.
© 2010 AFP