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By | John Oates 14th November 2005 10:06

Siemens cuts 3, 000 jobs

Ouch...

Siemens is cutting 3,000 jobs in its computer division after posting a big fall in profits.

The jobs will go from outside Germany - the firm had already announced a reduction of 2,400 in the German headcount.

Questions were raised about the timing of the announcement - a day after the company posted its financial results. Siemens' IT division made a bigger than expected loss of €427m. Turnover was up some two per cent. Siemens Business Services is looking for €1.5bn in savings within two years.

Siemens is believed to be looking for a buyer for the division. An offer from ATOS Origin, made earlier this year, was "derisively low", according to the FT.®

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