What do you think about Siemens cutting jobs to boost profits?

Siemens is a German-based transnational corporation: It describes itself as “a global powerhouse in electronics and electrical engineering, operating in the fields of industry, energy and health care as well as providing infrastructure solutions, primarily for cities and metropolitan areas. Recently Siemens’ management announced a major cost-cutting move to boost profits. It aims to increase profits from 9.3 percent to 12 percent in 2014. To do this will involve selling its solar power division, reducing its labor force, closing plants and opening new ones to take advantage of lower factor costs (mainly labor). Overall, it plans to cut 6 thousand million Euros by 2014 (7.7 billion dollars). About 10,000 jobs will be lost. In 2009, a similar cost-cutting move by Siemens resulted in the destruction of 17,000 jobs. Critics charge that Siemens is ignoring other “stakeholders” [its employees, the communities where it is located, its customers], and concentrating only on management and its share holders, putting its long-term opportunities at risk. Instead the company would be better off if it concentrated on increasing market share, and preserving jobs at the expense of short-term profits. What do you think about this? is this a wise idea for Siemen's or not? link-

Asked By: xClippersx - 12/3/2012
Best Answer - Chosen by Asker
I presume that, this simply cannot happen. The global trend and practice is to sell off less preferred units.
Answered By: Aleconomixt - 12/4/2012
Additional Answers (0)
Sponsored results
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Click. Search. Apply. Free!
Jobs hiring near your local area. Part-time, Full-time, Work at home.
Earn residual on products and services customers uses daily at home.

Other Career Questions

What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
3 answers - Asked By: drop pants not bombs!.♥ - 3/2/2010
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
4 answers - Asked By: bayebd24【ツ】 - 11/21/2007
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
1 answers - Asked By: roseparkerly - 1/26/2009

Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.

Popular Articles

Best-Paying Work-from-Home Jobs Article Rating
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook Article Rating
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.1.40.24-318