KNOXVILLE, Tenn. (WVLT) -- Layoffs announced Tuesday within Europe's largest engineering company could have an impact on East Tennessee.

Siemens AG plans to eliminate nearly 17,000 jobs worldwide.

Currently Siemens Medical Solutions employs 300 people in Knoxville.

A spokesperson from the company says administrative costs are too high to withstand the current economy.

There are about 15 administrative positions in Knoxville that could be at risk.

"There have been no announcements of specific job cuts in the U.S. or in the Knoxville area."

The Vice President of Media Relations for Siemens tells Volunteer TV that the specific locations impacted by the layoffs will be announced within a few weeks.

Employees at Siemens Medical Solutions manufacture medical scanning equipment.