I've noticed that layoffs at Siemens are part of the annual budgeting process. I am one of those who've come to work for Siemens because of the company name. Unfortunately management is more concerned with their own well being. Not uncommon but a disappointment. Especially since I gave up sales for going back to engineering. Now I am at the mercy of bad management and bad sales practices. When you rely on project managers to manage your sales relationships it's a predictable result.
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You got that right, OP. Tasted that on my own skin (was let go about year ago).