Diversified group Siemens AG will reduce headcount by more than 1,000 employees at its information technology unit SIS, says a media report.
Attributing to people familiar with matter, the Wall Street Journal reported that Siemens AG's information technology unit SIS is facing job cuts in the four-digit range.
"World-wide, probably more than 1,000 positions will be eliminated," the report said. Currently, the unit has around 35,000 employees, of which 9,700 are in Germany.
According to the publication, Siemens spokesperson declined to comment on possible job cuts, but she confirmed that Siemens would announce its new direction for SIS to its planning committee on Thursday.
Siemens in its 2009 financial report had said that restructuring costs could significantly weigh on the unit's earnings this year.
A German daily Handelsblatt also reported of job cuts in the four-digit range, the report noted.
Last year, SIS generated revenue of euro 4.7 billion and achieved euro 90 million in profit.
