World Economy

Siemens to Cut 6,900 Jobs

Siemens to Cut 6,900 JobsSiemens to Cut 6,900 Jobs

Labor unions have reacted angrily to layoff plans unveiled by the management of the German conglomerate, which aims to cut costs in its energy business to adjust to the disruption sweeping through the industry, DW reported. Following closed-door talks with workers on Thursday, the Munich-based industrial group announced that it was planning to cut 6,900 jobs globally as part of a larger restructuring of its power division. About half of the announced job cuts would be in Germany, where the company said it planned to shut down facilities in the cities of Gorlitz and Leipzig. A third production site in the town of Erfurt could be sold off, it added. “The power generation industry is experiencing disruption of unprecedented scope and speed,” managing board member Lisa Davis said in a statement, adding that renewable energy was putting other forms of power generation “under increasing pressure”.  


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