Siemens AG is planning to cut about 6,900 jobs and close at least two sites as Europe’s biggest engineering company attempts to turn around its struggling power and gas division after a sharp drop in orders. Half of the 6,900 jobs being eliminated will be in Germany, the Munich-based company said in a statement on Thursday. Some 6,100 of the jobs will be cut in the power and gas division, with the rest coming in the process-industries-and-drives and power-generation divisions. About 640 jobs will be cut at a site in Muellheim, and another 300 in Berlin. Siemens’s last major round of cuts was in the process-industries division, where 1,700 positions were cut after negotiations with unions.

Source: The Irish Times November 16, 2017 16:18 UTC