Siemens cuts work hours

German industrial giant Siemens said that it was cutting the working hours of a further 2,800 workers as the Munich-based firm's difficulties show no sign of abating.

The company, which employs a total of 131,000 people in Germany, said 7,400 employees would be on shorter hours until April. Previously, only 4,600 workers had been affected.

Siemens said in a statement that the measures would safeguard jobs during what is expected to be Germany's worst recession in six decades.

The firm said in January that orders in the three months to December 2008 dropped eight percent, although it also reported a seven-percent increase in sales over the same period.