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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

Mr Kaeser says the company's structural reorganisation has been completed for the most part


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...

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