Siemens Gets Smaller

Siemens Venture Capital, the venture capital unit of Siemens (NYSE: SI), has laid off at least one of its most senior investment professionals and will likely send more employees to the chopping block by April, according to a source familiar with the corporate venture capital group.

The layoffs took effect in late January. A company spokeswoman would not comment on the layoffs, but volunteered that former corporate fund president and CEO Naveed Khan, based in San Jose, Calif. had been laid off, along with an associate.

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