More cuts in store for Siemens' medical technology employment
This article was originally published in Clinica
Executive Summary
Siemens' drive to lower costs and improve profitability by reducing staff numbers during the past two years has prominently concerned the medical systems sector. Between September 1992 and September 1994, medtech employment fell 24% to 25,000 worldwide. In the same period, overall staff levels at Siemens were cut by 8% to 382,000. The German company plans further cuts during fiscal 1995 to reduce its workforce to below 370,000 and intends to concentrate these cuts in the same sectors as before, which includes medical systems.