FRANKFURT (Reuters) - German engineering giant Siemens sees potential for 20,000 job cuts at its as part of its “Vision 2020” strategy, Manager Magazin said in its online edition on Thursday.
FILE PHOTO: The headquarters of Siemens AG in Munich, Germany, November 9, 2017. REUTERS/Michael Dalder/File Photo
The cost savings will come from slimming down administrative costs in personnel, legal, finance and at its shared services division, Chief Executive Joe Kaeser told investors at a roadhow at the beginning of August, Manager Magazin reported.
Reporting by Edward Taylor; Editing by Douglas Busvine
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