Siemens says it will cut 300 fewer jobs at German site

, Comments 0 comments

German industrial giant Siemens said Tuesday it had reached an agreement with staff that will result in 300 fewer jobs being cut at a site in western Germany.

As a result of planned production changes in Bad Neustadt, "only 540 jobs will be cut instead of the 840 originally planned," a statement said.

The site is to be developed into "an innovation and technology center," it added.

Manufacturing of low-voltage motors in Bad Neustadt is to be moved to a plant in Mohelnice, Czech Republic, the group said, following "a reconciliation of interests" with its central works council.

Siemens manufactures a broad range of products from light bulbs to medical equipment, nuclear power stations, power turbines and high-speed trains.

At the end of September it employed around 405,000 workers worldwide.

© 2010 AFP

0 Comments To This Article