Siemens AG announced that it will have to cut 3,000 jobs from its information technology unit Siemens Business Services. They had already stated that 2,400 jobs were to be eliminated back in September. The company did not disclose exactly where the cuts would occur, only that they would be outside of Germany, according to Siemens' CEO. Siemens had reported a loss of $807.09 million in fiscal year 2005. It's IT division has been stalled by overcapacity and fierce competition. Source:
http://www.msnbc.msn.com
