Siemens managers scrap pay rise
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Executives at Siemens scrap plans for a 30% pay rise due to fears over the future of its former mobile phone unit.
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MUNICH, Germany : German electronics giant Siemens said that financial burdens connected with a technical fault in its new mobile phone handsets were likely to reduce earnings in the final quarter of its business year ending in September.
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The German trade union IG Metall and steel companies agreed late Tuesday to a 5.2 percent pay raise for steel workers, IG Metall said.
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Siemens AG plans to cut 1,250 jobs in its wireline network business as it restructures the unit, the German engineering giant said Friday.
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German electronics giant Siemens is planning to de-list its shares from the New York Stock Exchange because of the high costs of maintaining a listing on Wall Street.
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German leaders on Friday scrapped a proposal to create an extra working day by moving the holiday marking German reunification, bowing to a swell of criticism that the government had lost respect for the ...
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Thousands of staff at Volkswagen&#39;s Hanover plant walked off the job early this morning in a row over pay. The action came as management and workers&#39; representatives readied to resume deadlocked wage and employment talks.
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The appliance maker freezes pay and asks workers to quit, but rewards its executives with stock options.
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HANOVER - Management at Volkswagen and union leaders Wednesday agreed to a 28-month pay freeze as part of plans by the giant German-based carmaker to drastically cut costs.
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Striking train drivers brought parts of Germany's rail network to a standstill on Tuesday, backing their demands for a large pay increase with a walkout that affected tens of thousands of commuters.
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Carlos Ghosn said the Japanese automakerâs board members will forgo their bonus pay to take responsibility for poor performance.
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Volkswagen workers in Mexico have gone on strike after rejecting a wage increase offered by company management.
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15,000 officers expected to gather in London to protest again government's refusal to honour 2.5% pay rise
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German electronics giant Siemens said it planned to cut 1,350 jobs in its new Siemens Com division, which covers the group's activities in fixed-line and mobile communications.
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Siemens' telecommunications unit will undergo a compliance review, setting back its proposed merger with Nokia's networks group until early next year.
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ThyssenKrupp and Salzgitter, the largest steel makers in Germany, agreed to the highest wage increases for their workers in more than 10 years. Salaries for 85,000 workers at steel makers will increase 3.8 percent from the beginning of 2007, IG Metall, the steel workersÂ union, said. Wages last rose that much in 1995, when they increased 4 percent. IG Metall had been seeking a 7 percent wage increase for 12 months, while employers had offered 3 percent.
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German electronics giant Siemens said on Friday that financial burdens connected with a technical fault in its new mobile phone handsets were likely to reduce earnings in the final quarter of its business year ending in September.