The Wall Street Journal reported today that Siemens AG will cut 16,750 jobs, about 4.2% of its global work force. The newspaper said the cuts were part of an effort to reduce total costs. It also said that Siemens plans to reduce costs further by trimming expenditures for information technology and consultants. Siemens — which specializes in electronic systems for automotive, medical and automation applications – isn’t the first big engineering employer to discuss layoffs this year. WSJ reported earlier this week said that GM is “preparing to cut thousands more white-collar jobs.” NASA also announced earlier this year that it would cut as many as 8,000 contractor jobs.
Five years ago, optical heart rate tracking seemed like an obvious successor to the popular chest straps used by many fitness buffs, but the technology has faced myriad engineering challenges on its way to market acceptance.
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