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Siemens to cut nearly 7,000 employees worldwide

Siemens AG in a few years will cut about 6,900 jobs worldwide, half of them in Germany, the company announced.

In an effort to increase its competitiveness in international markets, Siemens will restructure three divisions: Power and Gas, Power Generation Services and Process Industries and Drives.

This should increase production capacity, as well as increase efficiency and expertise.

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