Siemens CEO tries to calm furor over job cuts, could affect Alstom deal

|About: Siemens AG (SIEGY)|By:, SA News Editor

Siemens' (SIEGY) CEO Joe Kaeser is in damage control a day after he let it slip an investor conference that the company's current restructuring affects 11,600 positions.

In a letter to employees today, Kaeser said Siemens' overhaul would lead to changes, but calls press reports of such a reduction "wrong or are based on a false interpretation... I did mention the [job] numbers reported, but at the same time emphasized that some positions could be put to work elsewhere."

It's not clear whether the comments might hurt Siemens' chances of winning Alstom's (ALSMY) power assets away from GE, but the headlines can't help his cause in France, particularly after GE's Jeff Immelt promised to create 1,000 new engineering and manufacturing jobs if his company wins the deal.