Siemens to cut up to 5,000 jobs in automation business after downturn

Siemens could cut up to 5,000 jobs worldwide in its struggling factory automation business, Chief Executive Roland Busch said on Thursday. "Sometimes we have to do some re-engineering because the developments weren't as positive as we expected them to be," said Busch after Siemens reported a 46% plunge in profit at its flagship digital industries business.