Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: P2V who wrote (2597)	1/21/1999 3:11:00 PM
From: elmatador	Respond to of 5390

Siemens is cutting the fat. When Ericsson is going to start doing it? Siemens reserved about workers' job pact proposals 11:26 a.m. Jan 17, 1999 Eastern FRANKFURT, Jan 17 (Reuters) - German electronics and engineering giant Siemens AG said at the weekend it had major reservations about workers' calls for a company-wide job security pact as it prepares to restructure its business. Union and Siemens' workers' council proposals to guarantee 190,000 domestic jobs at the company would prevent ''appropriate measures'' to keep it competitive, a Siemens' spokesman said on Saturday. The company was however prepared to discuss the proposals, he added. The jobs guarantee plan was announced on Saturday at a joint IG Metall union and Siemens' workers' council conference in the southern city of Nuremberg. IG Metall, Germany's largest industrial union, and the company workers' council said they would press for a jobs pact at Siemens' annual general meeting on Feb 17. Last November the company said it planned a massive $2.4 billion shake-up, including the sale of units with a combined annual turnover of 17 billion marks ($10 billion) and 60,000 staff. The company said at the time it was also weighing the flotation of its Siemens Nixdorf Retail and Banking Systems unit and its semiconductor business. Siemens employs around 440,000 workers worldwide and is one of Germany's biggest private sector employers. ($1-1.676 Mark)