Siemens to cut 1,100 jobs

Comment on this story
SiemensAG Reuters. A street sign is pictured in front of a factory with the logo of Siemens AG company in Berlin.

Industrial conglomerate Siemens AG says it will cut about 1,100 jobs in its energy division in Germany over the next two years amid a wider cost-cutting effort.

Siemens said Thursday the cuts will primarily affect its fossil power and the oil and gas services units which are experiencing sluggish demand. The phasing-out of its nuclear power division also plays a role.

The company says it aims to shrink the division by not filling vacancies and by assigning workers to other production units, rather than through lay-offs.

Munich-based Siemens' energy division has some 86,000 employees worldwide, with about 28,000 of them in Germany.

Siemens, a competitor to General Electric Co, produces fossil-fuel power plants, wind turbines, trains, light bulbs, health care technology and other engineering products. - Sapa-AP



sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.