Siemens to move 10,000 jobs to India, China, Russia
Agencies | December 16, 2003 13:37 IST
German technology giant Siemens plans to place one-third of its 30,000 software development operations in low-wage countries including China, India, Russia, and central and eastern European nations, the Financial Times has reported.
The technology major plans to cut costs by shifting about 10,000 jobs to these low-cost countries.
"We have to follow the trend, as all of our competitors are doing the same, and move some of our activities eastwards," Johannes Feldmayer, head of Siemens' corporate strategy, was quoted by FT as saying.
"We are not happy with the conditions in Germany in comparison with conditions in the strongest growth countries," FT quoted Feldmayer as saying.
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