Siemens to cut up to 5,000 jobs in automation business after downturn

ZURICH: Siemens could cut up to 5,000 jobs worldwide in its struggling factory automation business, Chief Executive Roland Busch said on Thursday.

“Sometimes we have to do some re-engineering because the developments weren’t as positive as we expected them to be,” said Busch after Siemens reported a 46% plunge in profit at its flagship digital industries business.