Siemens AG is a German combination organization with headquarters in Berlin and Munich. Recently Siemens AG will have to cut almost seven thousand jobs across its business. Workers in all parts of Siemens AG business will feel the affect. Not only from their gas industries but the power generation industries as well. Both the power generations and gas industries will receive the worse when cutting Siemens jobs. The reason being, the recent decline in the increasing growth of renewable energy. The company in the German headquarters says in total there will be six thousand nine hundred job cuts.
Siemens To Cut Jobs
The company reports at this time they will only be making job cuts in the Process Industries, Drivers divisions, as well as its Gas and Power divisions. The recent job cuts in almost all areas of the company is need. It will result in making a more substantial mechanical drive for gas and oil turbines. Also, its extractions.
Close to two percent of thecompany globally workforce will lose their jobs and main income. A board member of Siemens AG management Lisa Davis says the power age industry is encountering a disturbance of remarkable degree. Lisa Davis in her statement also includes that this has been the action that the company needs. Especially after fighting the business as a whole for the past three years.
Apart from the cuts that need to be made by the company business the areas that are being affected have not done very well. Drives industries and Process Industries have not made their profits as needed. They need to do so to hold up their end of the business as a whole. Reports prove that in the last four quarters the benefits have fallen almost three percent and was a significant loss for Siemens AG as a whole.