RealTime IT News

German Technology Firms Want to Cut Jobs

The crisis in the technology industry is affecting more and more companies in Germany.

A study revealed that of 15 large, well-known German employers, six want to cut jobs. Grundig, the electronics manufacturer with a total of 5,000 employees, wants to cut 1,093 jobs in Nuremberg and Bayreuth. Intershop, the former software star with 1,100 employees, has also already announced the abolishment of 200 jobs. At Siemens, the Munich-based electronics group with 446,800 employees worldwide, 5,600 of the 180,000 German employees have been affected.

Due to the continued weakness of the worldwide technology sector, the Siemens subsidiary Infineon is planning a comprehensive savings program. The group intends to introduce short time and reduce its number of personnel worldwide by 5,000 positions. It is still unclear just how many jobs will be abolished in Germany. At Nokia in Bochum, the management is also planning to cut 550 jobs.

Other companies, such as the software manufacturer Microsoft, the IBM computer group or Medion, an electronics service provider, have not been affected by the crisis. Medion (469 employees) wants to create 50 new jobs this year. According to its own reports, Microsoft intends to hire 126 additional employees in Germany. Although the electronics market has also been hit by the economic slowdown, Media-Saturn-Holding ("Media Markt" and "Saturn") wants to create 2,000 to 3,000 new jobs throughout Europe.