Siemens Lay Off

Alright guys, you knew this was coming. The marching orders came down from head quarter.

Frankfurt, Germany (AHN) - Germany's largest electronic firm, Siemens, is considering cutting over 17,000 white collar jobs world wide to reduce administrative expenses.

Siemens chief executive officer Peter Loescher downplayed worries that the telecom firm would be engaged in a massive layoff and promised he would avoid forced redundancies. Healthcare sector faces 2,800 job cuts.

Good Luck!