BERLIN-Siemens AG said it plans to cut 2,300 jobs in its mobile communications division, and 500 of the cuts will take place in Germany.
The company, however, said it plans to step up its UMTS investments.
“The world market for mobile communication networks has already declined by 15 percent last year. This year, the market will contract by up to 20 percent,” said Rudi Lamprecht, a member of the managing board of Siemens. “Moreover, sales in the mobile-phone market are stagnating, in spite of higher volumes. Business at all players is under considerable pressure on margins.”
