Siemens planning wage cuts as well as job cuts: report

BERLIN (AFP) — German industrial giant Siemens, which has announced plans to cut 16,750 jobs, is also planning to cut the wages of hundreds of employees, Der Spiegel reported Saturday.

In particular, the salary of 390 workers not covered by agreements with the metal workers union will be cut by 10 percent, according to the magazine.

An official from the trade union IG Metall, Heinrich Urban, condemned the "audacity" of the cuts unveiled by Siemens.

The programme "will bring in around 1.2 billion euros (1.9 billion dollars), that's almost as ...