Siemens pledges no job cuts amid COVID-19 (OTCMKTS:SIEGY)

Siemens (OTCPK:SIEGY) will not cut its workforce despite COVID-19 stalled major economic activity in Germany, Chief Executive Joe Kaeser said, although short-time working measures could be extended in Germany.

Only 1,600 out of 120,000 in Germany, are on short-time work, but the company says that the number could increase later.

“No one at Siemens will leave because of a temporary fluctuation in activity,” Kaeser told Passauer Neue Presse in an interview published on Saturday.

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