Siemens reports on job losses in telecoms

Siemens is to report on its last three months when it was forced to cut jobs as fewer people than expected bought mobile phones.

In May, Siemens announced it was cutting another 2,000 jobs in a bid to make its telecoms operation profitable.

The redundancies in the information and communication networks business came on top of 3,500 cuts announced in April.

The German electronics and engineering group is expected to report third quarter earnings before interest tax and amortisation of between £183m and £400m, compared to £362m in the same period last year.

The company announced an 11% year-on-year fall in net profits at a press conference in April. This was largely due to a slump in its mobile handsets and networks divisions ICM and ICN.

Heinrich von Pierer, the company's chairman, has already predicted that the third quarter will be even worse.