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Siemens cuts more jobs as Q2 profit disappoints

4,500 jobs to go as earnings from operations fall 4.9% on falling oil price, taking cuts since Dec to 13,100
Friday, May 8, 2015 - 05:50
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Mr Kaeser says the company's structural reorganisation has been completed for the most part

Munich

SIEMENS AG, Europe's largest engineering company, will cut another 4,500 jobs after second-quarter profit fell more than analysts estimated, burdened by the declining oil price.

Profit from so-called industrial operations fell 4.9 per cent to 1.66 billion euros (S$2.5