Bangalore: Narrowing profit margins and muted sales finally seems to have caught up with Siemens AG. And in an attempt to curb the losses the conglomerate has decided to chop down its workforce by about 15,000 in the next 12 to 14 months across various countries. Out of the 15,000 jobs, the German engineering and capital goods company is planning to reduce 5,000 jobs in its home nation alone, and the remaining posts worldwide, setting off assumptions about the possible cut back of its operations in India as well, reports Rachita Prasad, ET Bureau.

Siemens has a 370,000 strong workforce, out of which 19,000, i.e., 5 percent are in India. The executives of the firm refused to speak about the issue and continued to remain non-committal about the exact number of job layoffs in India and the world over. In the words of Michael Friedrich, who is from the corporate communications and government affairs team of Siemens AG, "With regard to the job cuts in Siemens, we do not provide figures according to single locations, countries or facilities", reports ET.

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