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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Following the public outcry over the collapse of the German arm of mobile telephone maker BenQ and fierce political pressure, Siemens has said its management would forego planned pay rises of up to 30 percent and set up a fund to help BenQ's German employees instead.
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elta Air Lines said yesterday that it was cutting the pay of executives and other salaried workers by 10 percent and making other changes meant to help it avoid a bankruptcy filing.
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Democratic leaders have been forced to scuttle the 1.7 percent pay hike for the entire year
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Paychecks stay the same for the top two, but compensation changes for other Microsoft workers as stock grants replace options.
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British Airways workers called off a planned strike after unions accepted a pay raise offer, thereby averting travel chaos during Britain's last long summer weekend.
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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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Tube workers have called off a planned New Year&#39;s Eve strike, averting travel chaos, after reaching a deal with managers over hours, pay and conditions.
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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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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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LONDON (CBS.MW) -- Credit Suisse First Boston overnight cut its rating on German mobile phones-to-turbines conglomerate Siemens (SI) (DE:723610) to neutral from outperform and cut its price target on the stock to 65 euro from 70 euro.
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MPs urged to respect government's pay restraint policy by voting down recommendation for 2.56% rise in salaries in favour of staged award
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German engineering conglomerate Siemens posted first-quarter profits that beat expectations but failed to present a solution for its ailing mobile phones business on Thursday.
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Small German firms follow phone giant Siemens by pushing for five more hours per week - without pay.
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FRANKFURT : 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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Despite reporting record profits the chipmaker plans on cutting the base pay of its technical support staffers to compensate for the money it stood to lose by being forced to pay overtime.
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Strikes are set to continue on the German rail system after staff seeking higher wages caused widespread disruption on Tuesday.