Siemens Energy to shed 7,800 jobs in cost-cutting drive

first_imgBERLIN (AP) — Energy technology company Siemens Energy says it plans to shed 7,800 jobs worldwide by 2025 as part of a drive to cut costs. The company, which was spun off last year by German industrial conglomerate Siemens AG, currently has more than 90,000 employees around the world. It said Tuesday that “optimized processes, leaner structures, the reduction of overcapacities and portfolio adjustments” will result in some 7,800 jobs going in its gas and power segment, around three-quarters of them in management, administration and sales. The plans call for 3,000 jobs to be cut in Germany, 1,700 in the United States and 3,100 at other locations worldwide.last_img read more