1.0 link 111351 <![CDATA[Siemens Cutting 16,750 Jobs Worldwide]]> http://www.huffingtonpost.com/2008/07/08/siemens-cutting-16750-job_n_111351.html FRANKFURT, Germany &mdash; Industrial conglomerate Siemens AG said Tuesday it will cut 16,750 jobs, or 4.2 percent of its global work force, to streamline operations and slice nearly $2 billion in costs in the face of a slowing economy.

The Munich-based maker of products ranging from light bulbs and medical equipment to high-speed trains and power turbines said the cuts would include 12,600 administrative jobs as well as another 4,150 positions involving restructuring projects at its various units. The company has...

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