If Mike Zafirovski is considering a major deal, his bargaining power with Siemens was given a big boost when the German conglomerate unveiled plans to chop 1,000 jobs (administration, sales and development) at its communications division due to lower than expected profits. "The job cuts are unavoidable as Siemens is required to reach cost positions that correspond to international pricing competition,'' Siemens said. The communications business, which is reportedly on the block or being spun out, has 54,500 employees. According to Bloomberg, the unit has struggled to keep pace with rivals such as Ericsson AB, Nokia Oyj and Nortel.
Maybe Siemens is Willing to Deal