What are ethnocentric, geocentric, polycentric, and regionocentric polices and how is the impact on human resource different in each case? Siemens has announced job cuts of 4,500 employees today because a drop in industrial profits to 1.70 billion euros from forecast level of 1.78 billion euros. The new cuts come on top of 7,400 job losses announced earlier. Why is Siemens doing this when its profitability margins are comparable to its major competitors such as GE and ABB?