Siemens has announced it will cut 15,000 jobs across its industrial, energy and infrastructure businesses in Germany over the next year.
The company said it has reached agreement with its unions over about half of the job cuts and does not intend to make enforced redundancies, relying on attrition and voluntary severance deals.
The move is part of a €6bn cost cutting program to close the gap with profitable rivals such as US-based General Electric and Switzerland’s ABB.
"The ongoing and planned workforce adjustments in the context of Siemens 2014 are about 15,000 positions worldwide, of which about 5,000 are in Germany," the Munich-based firm said in a statement.
Of the job cuts in Germany, 2,000 positions will be slashed in the company's industry division, 1,400 in energy, 1,400 in infrastructure and cities and 200 in the corporate division, the spokesman said.
Siemens has about 370,000 employees worldwide, including 119,000 in Germany.