German engineering giant Siemens said Sunday it plans to slash 15,000 positions worldwide by late next year as part of a cost-cutting programme, including 5,000 in its home country.

"The ongoing and planned workforce adjustments in the context of Siemens 2014 are about 15,000 positions worldwide, of which about 5,000 are in Germany," the Munich-based company said in a statement.

Source: AFP