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Siemens cuts another 4,500 jobs as oil decline burdens profit

2015-05-07 08:48:09| Industrial Machines - Topix.net

Siemens, Europe's largest engineering company, will cut another 4,500 jobs after second-quarter profit fell more than estimated by analysts, burdened by the declining oil price. Profit from so-called industrial operations fell 4.9 per cent to 1.66 billion euros, the Munich-based company said in a statement.

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