Siemens to cut 15,000 jobs

German industrial group Siemens is to cut up to 15,000 jobs worldwide as it restructures administrative services, according to a press report to be published on Thursday.
A Siemens spokesman contacted by AFP declined to comment on the report, which was released in advance by the business daily Handelsblatt, and which said that both administrative and management posts would be affected by the cuts.
Siemens wants to reduce costs by 1.2 billion euros (1.9 billion euros) by 2010 and bring them below 11 billion euros per year, chief executive Peter Loescher said in late April.
The German conglomerate is carrying out a broad revamp of its operations and already announced 3,800 jobs cuts at its SEN telecommunications systems unit and 1,000 posts at Osram, its lighting systems division.