Siemens cuts 2,000 more telecom jobs

German engineering group Siemens announced a further 2,000 job cuts today.

German engineering group Siemens announced a further 2,000 job cuts today.

It said the measures should substantially strengthen profitability at its telecoms operations, which have been hard hit by the global slump in the networks and mobile handset markets.

The 2,000 job cuts in the ICN fixed network business come on top of 3,500 cuts already announced at the unit last month.

With the previously announced 2,600 job losses at its ICM mobile division, Siemens will shed 8,100 jobs this year in telecoms.

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Siemens said the weakness in the mobile phone sector was expected to continue and was affecting new-generation mobile networks as well as handset sales.

The group made a loss of euro 143 million in its mobile handset operations and saw operating profit in the fixed-network segment slide to euro 50 million, less than a third of the previous year's euro 183 million.