Hard hats with the lettering ‘Siemens’ hang on a wall in Nuremberg, southern Germany in a steam turbine plant on June 22, 2017.
German manufacturing conglomerate Siemens announced on Thursday in which the idea was cutting 6,900 jobs worldwide in response to modifications within the energy along with also commodity sectors.
Roughly half of the job cuts will be made in Germany, the company said in a press Discharge, along with also will be made within the affected industries “over a period of several years.”
“The cuts are necessary to ensure in which our expertise in power-plant technology, generators along with also large electrical motors stays competitive over the long term. in which’s the goal behind the measures we’re taking,” said Janina Kugel, Siemens’ chief human resources officer managing board member.
Despite the cuts, the company expects its fresh hire level to remain stable through the current year to 2018, along with also says the idea plans to move as many affected employees as possible to its 3,0 vacant job slots.
The company says in which about 6,100 of the job cuts will be made to its power along with also gas division worldwide.
Siemens’ “PG2020” program was implemented in part to anticipate along with also hedge against the modifications in in which industry. nevertheless while the company says the program has helped the idea make “considerable progress” within the power along with also gas industries, the press Discharge concedes in which measures “have to be further intensified since the scope along with also speed of the market modifications have increased significantly.”
Shares of Siemens, which employs about 372,000 people around the earth, were little changed following the news.