Siemens – To cut 4,500 jobs

Siemens reported Thursday it would need to cut a further 4,500 jobs as part of its global restructuring effort, with a view to making the company more competitive and profitable. It said 2,200 jobs would have to be slashed in Germany. 

Siemens noted on its website this morning that the move was primarily aimed at improving the performance of its struggling power generation division.

The segment had been suffering from a difficult market environment as energy prices dropped sharply as did demand for Siemens’ big gas turbines.

Chosen excerpts by Job Market Monitor. Read the whole story at  Siemens to cut thousands more jobs | Business | DW.DE | 07.05.2015.