Engineering giant Siemens has revealed that it has reached a deal to secure jobs for workers.

The company has stated that home country employees have a further commitment to employment in Germany following recent negotiations.

An existing agreement with members of staff has been extended indefinitely by Siemens, with roles protected during any future restructuring activities.

It was initially struck with union officials and the employee council of the group in 2008 and had been due to expire, but has now been increased.

Siemens president and chief executive Peter Loescher declared that the move "represents a clear and long-term commitment to Germany as a business location".

The locations and employment deal also applies to Siemens subsidiaries in Germany and includes a commitment to avoid layoffs where possible.

Founded more than 160 years ago, Siemens generated revenue worth €76.7 billion over the year to September 2009 and employed around 405,000 people worldwide.

Posted by Alex Donnell