German engineering giant Siemens said Thursday it is planning to cut over 3,000 jobs in its industrial division as part of a vast plan to save six billion euros ($8 billion) as it faces falling profits.
Belgium was in shock Wednesday after US auto giant Ford announced plans to close its Genk plant, threatening 4,300 jobs as slumping demand across Europe leaves companies with too much capacity.
Nokia Corp. will lay off 10,000 jobs globally and close plants by the end of 2013, the company said Thursday, in a further drive to save costs and streamline operations.
Nokia Corp. said Wednesday it will slash 4,000 jobs in Finland, Mexico and Hungary in a further move to cut costs as it struggles against stiff competition in the smartphone market.
