Siemens to Shed Jobs, Newspaper Reports

Siemens, Germany’s biggest company, is considering further job reductions at its networks and mobile-phone units. The newspaper Frankfurter Allgemeine Zeitung reported that Siemens plans to shed 5,000 jobs, at least 4,000 positions at its networks unit and about 1,000 jobs at its mobile group by the end of its fiscal year in September. A Siemens spokeswoman declined to comment.