German industrial giant Siemens gave an indefinite pledge on Sept. 22 not to carry out any forced redundancies among its 128,000 workers in its home country.
"This represents a clear and long-term commitment to Germany as a business location. Siemens is a responsible employer. Every single employee is important to us," chief executive Peter Loescher said.
The 160-year-old firm, which generates annual sales of around 75 billion euros (US$100 billion) making everything from trains to nuclear power stations, said it would "use every possible means to achieve this aim."
Trade union IG Metall welcomed the announcement, saying: "The new deal gives Siemens employees security and protects them against future changes."
The agreement does not cover the Munich-based giant's some 275,000 employees outside Germany, however, nor those at its troubled IT Solutions and Services division.
Copyright Agence France-Presse, 2010