Siemens planned to shed 15000 jobs over the next year as a part of its cost cutting program, said a spokesman last Sunday.
Peter Loescher
Breaking News
Yesterday, Siemens AG announced naming a new CEO for the company after ousting its former head, Peter Loescher.
The supervisory board at Siemens AG asked to oust its current CEO after failing to meet the 12% profit margin goal of the company.
Peter Loescher, the first outsider to lead the company will be leaving Siemens soon.
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