SIEMENS DENIES JOB-CUT IN CHINA
AsiaInfo Services, February, 2005
AsiaInfo Services 02-03-2005 Siemens Denies Job-cut in China SHANGHAI, Feb 03, 2005 (SinoCast via COMTEX) -- Shanghai Siemens Mobile Communications (SSMC) was rumored to cut jobs recently. PR manager at the Shanghai company Sun Xiaoyun said that the parent company made no definite decision about the future of mobile phone business at the general meeting of shareholders onJanuary 27.
By now, SSMC has no plan for job cuts. It is revealed that the fate of cellphone unit would be decided a fewweeks later. Even though the profit of the first quarter of the fiscal year 2005 was better than expected, the telecom business made a net loss of EUR143 million, which gained a net profit of EUR64 million and sales of EUR1.486 billion one year ago. The new president of the group...
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