Siemens To Disclose SBS and Com Operations Overhaul Plan Next Week

FRANKFURT -(Dow Jones)- Siemens AG (SI) said Thursday it will give details in the coming week about the reorganization of two of its ailing units, Siemens Business Services, or SBS, and its telecommunications equipment unit.

A spokeswoman of the German engineering company said on Thursday that there would likely be information concerning the future of the units next week, and perhaps as early as next week.

According to reports in the German press, up to 1,290 jobs could be cut at SBS, and up to 10,000 jobs at all three of Siemens troubled units, which includes its logistics unit.

Siemens is also seeking to bring in a partner for SBS, according to an advanced copy of Friday's Sueddeutsche Zeitung, citing company sources. Atos Origin (5173.FR) has said that it is interested in linking up with SBS.

Company Web site: http://www.siemens.com

-By Mathias Schmidt and Scott Solano; Dow Jones Newswires; +49 69 29 725 500; mathias.schmidt@dowjones.com

(END) Dow Jones Newswires"

Posted to the site on 15th September 2005