HSBC plans massive job cuts - Siemens workers protest job cuts - German companies anticipate Iran sanctions Lifting - Germany's dual vocational training system
Business Brief 06/09/2015
Labor unions have reacted angrily to layoff plans unveiled by the management of the German conglomerate, which aims to cut costs in its energy business to adjust to the disruption sweeping through the industry.
The German engineering giant is expecting bumper profits in the wake of a massive restructuring that will also cut thousands of jobs. But Siemens believes a new, leaner structure is vital for long-term growth.
Germany has been trying to export one of the keys to its industrial success: its dual-track vocational education system. Slovakia is one of the countries that have made strong progress in adopting the system.
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