German industrial giant Siemens to cut 4,500 jobs

German industrial giant Siemens plans to cut 4,500 jobs, or about 1% of its total global workforce, months after it announced plans to slash more than 7,000 jobs.

Siemens restructuring to affect 11,600 jobs worldwide

German industrial giant Siemens plans a major reorganisation of its business, affecting 11,600 workers. The restructuring directly affects 7,600 jobs worldwide, with another 4,000 potentially affected as part of changes to its regional organisation.

Rolls-Royce blames strength of pound for profit slump

The strength of the pound and a one-off charge for fixing a product problem will reduce Rolls-Royce's profits by £70m this year.

Siemens splashes out on buyback as new CEO works on strategy

BERLIN: Siemens' new Chief Executive Joe Kaeser promised on Thursday to buy back up to 4 billion euros ($5.4 billion) worth of shares while asking investors for patience as he works out a strategy by May to close a gap with more profitable rivals.

Siemens seeks thousands of job cuts: paper

FRANKFURT (Reuters) - German engineering conglomerate Siemens is in early internal talks to cut thousands of jobs in response to a weakening economy, particularly in Europe, a German newspaper reported.

Siemens to quit nuclear industry

German industrial and engineering conglomerate Siemens is to withdraw entirely from the nuclear industry.

The move is a response to the Fukushima nuclear disaster in Japan in March, chief executive Peter Loescher said.

He told Spiegel magazine it was the firm's answer to "the clear positioning of German society and politics for a pullout from nuclear energy".

Siemens, Volkswagen and BASF see shares fall

Several German industrial giants have seen their share prices fall after reporting disappointing results.

Siemens, Europe's largest engineering conglomerate, reported a drop in third-quarter profits, sending shares down 0.8%.

Chemical firm BASF and carmaker Volkswagen also saw their stocks drop.