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5 Big-Name Companies Cutting Jobs

Mass layoffs are more proof that jobs crisis is far from over

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siemens layoffsNumber of Layoffs: 15,000
Layoffs As % of Workforce: 4%

Last but not least, this last round of layoffs wins the prize for sheer size.

In late September, industrial giant Siemens (SI), which builds products ranging from gas turbines to high-speed trains and ultrasound machines, announced it would fire about 15,000 workers worldwide as part of a cost-cutting effort to save $8.1 billion.

About one-third of those layoffs will come in Germany, with 2,000 jobs to be cut at the company’s industrial unit and another 1,400 at its energy and infrastructure business.

The 15,000 layoffs were also double the company’s original target, which easily puts Siemens at the top of the layoff list.

As of this writing, Alyssa Oursler did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

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