Siemens AG plans to cut around 4 percent of its work force worldwide as part of an overhaul and as a result of the global economic downturn. Siemens wants to cut 16,750 jobs globally, of which 12,600 are mainly in administration, to help Europe's biggest engineering group reach a savings target of 1.2 billion euros ($1.9 billion) by 2010 and boost profit margin levels....