Siemens (SI) may outline job cuts and office closures today to stop sliding profits as customers...

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

Siemens (SI) may outline job cuts and office closures today to stop sliding profits as customers put off ordering engineering equipment, Reuters reports. CEO Peter Loescher's strategy of boosting growth with energy-saving and infrastructure products has not worked, and analysts expect him to present managers with a plan of up to €4B ($5.2B) in savings. SI -0.7% premarket.