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Siemens cuts working days to avoid stock build up

Siemens cuts working days to avoid stock build up
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First Published: Thu, Mar 12 2009. 11 18 AM IST
Updated: Thu, Mar 12 2009. 11 18 AM IST
Mumbai: Siemens Ltd said it has planned a temprorary cut in the number of days its switchgear factories will work to avoid inventory build-ups amid the deepening economic slowdown.
The Aurangabad and Kalwa plants will now work 3-4 days a week, the company said in a stock exchange release Thursday.
Siemens also said “some factories in the energy sector” will reduce their working weeks by one day. It did not provide further details.
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First Published: Thu, Mar 12 2009. 11 18 AM IST