After firing in Germany
Earlier this week Siemens announced it was laying off
more than 2,000 German workers, but now it turns out that it is actually hiring 8,000 Indians.
Siemens, said it would invest $346 million in India over
three years. The German outfit already hires 25,000 in India, but
insists that this is not a move to shift production to low-cost countries.
Chief Executive Peter Loescher said it was taking
advantage of the Indian growth opportunity, we're adding specifically tailored
products for the local market.
Siemens cut 2,000 jobs in Germany claiming that it was
suffering from falling demand for its products.