Mumbai, Mar 12: Amid deepening economic slump, Siemens Ltd announced its plan to moot a temporary cut in the number of days its switchgear factories will work to avoid stock build-ups. In a stock exchange release Siemens said that the Aurangabad and Kalwa plants will now on work for 3-4 days a week.
Earlier the company had reduced the working hours of about 2,800 workers at the Munich based plant. Now it said that 7,400 employees would be on shorter hours until Apr. Company said that the proposed measure will safeguard the employees job amid the worst Recession faced by Germany in 6 decades.
Siemens currently employs about 131,000 people in Germany.