Siemens cost cutting includes 2,900 layoffs in Germany

Siemens cost cutting includes 2,900 layoffs in Germany

Published at: 2018-09-25 10:57 | Author: CIJ Europe
Siemens has announced plans to fire roughly 2,900 of its workforce in Germany in an attempt to cut costs and increase competitiveness for two of its divisions (Power and Gas and Process Industries and Drives). In all, the company hopes to save €500m over the next two years. The engineering company will sell its site in Leipzig and restructure another in Erfurt. The company announced plans over the summer to reduce the number of industrial divisions it operates from five to just three. Labor representatives appear to have been successful in reducing the layoffs from the originally planned cuts of 3,400 jobs.



Picture: Siemens.com

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