Engineering giant Siemens is to cut 7,800 jobs worldwide, more than 3,000 of them in Germany, as part of an ongoing restructuring plan aimed at saving about €1bn.

The trains-to-turbines group employs 343,000 people worldwide, of whom 115,000 are in Germany.

Siemens Ireland - which employs around 530 people - said there was currently no breakdown of the job cuts outside of Germany.

Siemens has had offices in Ireland for 90 years and is heavily involved in the energy and transportation sectors here.

Chief executive Joe Kaeser unveiled a mass streamlining plan in May 2014 aimed at dramatically reducing both the number of divisions and hierarchy levels within the industrial group by 2016.

"The savings achieved will be invested in innovation, productivity and growth initiatives, a considerable part of which will be in Germany," the company statement said.

Janina Kugel, a board member and labour director, said the company wanted to start talks with employee representatives about the cuts in Germany as soon as possible and "search constructively for socially responsible solutions".

Last month, Siemens, which runs its business from October to September, said that net profit fell by 25% to €1.095bn in the first three months.

Press reports in recent days had indicated a similar figure for the job losses. Shares in Siemens slid 1.3% to €95.01 on a slightly lower Frankfurt stock exchange.