ZURICH (Reuters) - Siemens could cut up to 5,000 jobs worldwide in its struggling factory automation business, Chief Executive Roland Busch said on Thursday.

Siemens, facing a 46% profit drop in its digital industries division, plans to cut up to 5,000 jobs. CEO Roland Busch cited the need for restructuring amid unexpected negative developments. Despite this,

German tech conglomerate Siemens may cut up to 5,000 jobs globally in its factory automation sector owing to ongoing struggles, reported news agency Reuters. CEO Roland Busch announced the potential cuts on Thursday.

Siemens flagged mounting geopolitical risks like trade conflicts and weak consumer demand in the year ahead after posting fourth quarter earnings slightly ahead of forecasts. The company, whose products range from industrial controllers and software to trains,

ZURICH (Reuters) -Siemens reported a drop in profit at its industrial business on Thursday and lowered its sales target for next year, citing geopolitical risks like trade conflicts and weak consumer demand.