German multinational engineering and electronics conglomerate Siemens will reportedly cut up to 15,000 jobs worldwide by 2014 end.
However, the job cuts don't imply that all the workers will lose their jobs, since some could be transferred to other departments, said a company spokesman.
According to news.com.au, the company is likely to cut 5,000 jobs in Germany and another 10,000 jobs will be cut abroad.
The report said that the company has approximately 370,000 employees and makes a wide range of industrial machinery, including trains, power generators and transmission equipment, and medical scanners.
Headquartered in Munich and Berlin, Germany, Siemens is largest Europe-based electronics and electrical engineering Company, which deals in various sectors including Industry, Energy, Healthcare, and Infrastructure & Cities.
-With inputs from ANI
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