Siemens to slash further 4,500 jobs in restructuring
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MUNICHMay 07, 2015 - 12:00 am GMT+3
by
May 07, 2015 12:00 am
German technology giant Siemens announced yesterday its intention to cut an additional 4,500 jobs to complete its global restructuring drive, with 2,200 of those positions coming out of German operations. The company announced that the move was intended to improve the performance of its power generation division, which has been struggling amid a sharp drop in energy prices. The announcement comes on top of the 7,800 job cuts the company announced in February - a figure that was later reduced to 7,400 - 2,900 of which will be made in Germany.
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