German industrial giant Siemens said Tuesday it planned to cut over 6,000 jobs worldwide due to weak demand and increasing competition in China and in its home market. "Muted demand primarily in the key markets of China and Germany coupled with increased competitive pressures have considerably reduced orders and revenue in the industrial automation business," said the group in a statement.

German industrial giant Siemens said Tuesday it planned to cut over 6,000 jobs worldwide due to weak demand and increasing competition in China and in its home market. "Muted demand primarily in the key markets of China and Germany coupled with increased competitive pressures have considerably reduced orders and revenue in the industrial automation business," said the group in a statement.

German industrial giant Siemens said Tuesday it planned to cut over 6,000 jobs worldwide.,

German industrial giant Siemens said Tuesday it planned to cut over 6,000 jobs worldwide due to weak demand and increasing competition in China and in its home market.