UPDATE 1-Siemens to cut wind and solar power jobs – report

By Reuters:

Bulk of planned job cuts in admin, management – magazine

* Siemens may close offices in other countries – magazine

* Siemens to make savings plan public on Nov. 8 – spokesman (Adds further details, background)

FRANKFURT, Sept 19 (Reuters) – Siemens will cut jobs at its wind and solar power units as well as in its new Infrastructures and Cities business as part of a drive to cut costs in a weakening economy, a German magazine said.

The bulk of job cuts at Siemens would likely be in management and administrative functions, Monthly Manager Magazin reported on Wednesday, citing no sources.

A spokesman for Siemens said an outline of planned savings would be presented to management in early October and would be made public when the industrial conglomerate publishes its annual results on Nov. 8… Read more

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