Europe's largest engineering company, plans to cut 16,750 jobs as it seeks to boost profit margins to the level of its competitors.

<tr><td><p class='TableClas'></p><P class='TableClas'><DIV CLASS=rightDiv><script language="JavaScript">
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		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>Siemens aims to eliminate 5,250 in Germany, Chief Executive Officer said in a speech handed to reporters today in Munich, where the company is based. The reductions represent about 3.9 per cent of the workforce. Another 4,150 further positions will be &#34affected&#34 by the company's reorganisation, the CEO said. 
</p><p class='TableClas'>Loescher set a target in April to cut 

Siemens plans 16,750 job cuts to boost margins

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