Crisis Legal NewsClick here to add this website to your favorites
  rss
Crisis News Search >>>



Siemens AG intends to focus on its energy, health and industrial services through the global financial downturn, even though it will have to move more jobs to low-cost countries to cut expenses, its chief said Thursday.

Speaking in Berlin, Chief Executive Peter Loescher said the downturn was one "not seen before in our generation," but said the Munich-based company was still poised to get new business in 2009.

"Stronger companies will get stronger and the weaker ones weaker" as a result of the crisis, he said, adding the company would do more research and development inside Germany but move production jobs abroad to benefit from cheaper labor costs.

Siemens currently employs some 430,000 workers worldwide, with 130,000 in Germany. It has this year added more positions in its energy sector, as well as in Brazil and China.

Siemens, which makes everything from wind turbines to trams, won't suffer from the current shortage of credit and would have no refinancing costs in 2010, said Loescher.

As for the ongoing corruption case — earlier this week, Siemens agreed to pay more than $1 billion in fines in Germany and the U.S. — Loescher said that internal policing and investigation, along with an emphasis on integrity had been established.


© Crisis Legal News - All Rights Reserved.

The content contained on the web site has been prepared by Legal Crisis News
as a service to the internet community and is not intended to constitute legal advice or
a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 Law Firm Web Design Information
Law Promo can construct your law firm a brand new responsive website, or help you redesign your existing site to secure your place in the mobile world. We believe our work speaks for itself by showcasing quality design while reflecting our extensive experience in the online legal marketing industry. Law Firm Website Designs by Law Promo.| Law Firm Logo Design
   Latest Crisis Legal News
   Sponsored Links
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Fort Lauderdale Criminal Defense Lawyer
Miami Sex Crimes Lawyer
www.mishalilaw.com
Fort Washington Employment Law Firm
Attorney Marc E. Weinstein
www.meweinsteinlaw.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Car Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Eugene Criminal Defense
Law Office of Max J Mizejewski
Family Law. Call 541.505.9872
www.mjmlawoffice.com
CPA Accounting Web Design
Finanace Office Web Designs
www.webpromo.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Cobb County Criminal Attorney
Georgia Criminal Defense Lawyer
www.andrewschwartzlaw.com
San Francisco Trademark Lawyer
San Jose Trademark Lawyer
www.onulawfirm.com
Eugene Chapter 7 Bankruptcy Lawyer
Oregon Chapter 7 Bankruptcy Lawyer
www.willamettevalleybankruptcy.com