IN BRIEF (Page 16)

Cutback costs

Siemens AG will spend about 800 million euros on a plan to cut jobs, Frankfurter Allgemeine Zeitung reported, citing unidentified people close to the company.

The total will depend on how many workers at the Munich- based company accept a severance package, the newspaper said. Siemens, which will book provisions in the quarter ending on Sept 30, will also have a 1 billion-euro burden from the divestment of its SEN Enterprise Communications call-center equipment business, the newspaper said.