Siemens AG has announced job cuts of around 7,800 employees among its company divisions as part of a dramatic restructuring aimed at streamlining its massive operations. The cuts are less strident than analysts had previously predicted, as Siemens has focused on trimming its middle management positions to make its organization flatter and more efficient. The largest number of job cuts will occur in Siemans home country of Germany.
See "Siemens' long-feared slimdown isn't as drastic as feared", Geoffrey Smith, Fortune, February 5, 2015