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Siemens to Cut 2800 Healthcare Jobs

Article-Siemens to Cut 2800 Healthcare Jobs

As part of a massive global restructuring, Siemens AG is cutting 2800 jobs from its healthcare unit, one of the major players in medical imaging technology. About 1550 of those will be made outside of Europe, mostly in the United States. Most of the cuts will be made in the imaging, IT, and workflow & solutions sectors.

A little less than half the cuts in the healthcare unit will be related to the restructuring of business units. Overall, the conglomerate will shed 16,750 jobs, a little more than 4000 related to restructuring measures. The firm's operating costs are much more than its competitors, and so the plan is to reduce them by â,¬1.2 billion by 2010. The firm said it will "make the cuts in a way that will be as socially responsible as possible." That is, it will try to leave vacancies unfilled, offer early retirement, and spin off some smaller units before resorting to terminations.

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