German engineering giant Siemens has unveiled a massive restructuring plan, which aims to cut 16,750 jobs would be cut worldwide. Almost one-third of these will be in Germany.
A spokesman for Siemens in Ireland said there were no definite indications yet of how the measures would affect the Irish business, which employs 1,100 people.
But he said its Irish business was strong, and the company saw many opportunities, particularly in the infrastructure area. He also said the firm currently had vacancies in Ireland.
Siemens, which employs 400,000 people around the globe, said in a statement that most of the cuts, around 12,600, would be in administration and management services, while 'restructuring projects' would eliminate another 4,150.
'The speed at which business is changing worldwide has increased considerably, and we're orienting Siemens accordingly,' chief executive Peter Loescher said in a statement. 'Against the backdrop of a slowing economy, we have to become more efficient,' he added.
The chief executive said the sprawling conglomerate, which makes products from light bulbs to power stations and trains, had to catch up with its main rivals, such as the US group General Electric.
Siemens employs more than 1,000 people in Ireland, in Dublin, Cork and Belfast. There is no indication yet of how the cuts will affect Ireland.
