Siemens Energy To Shed 7,800 Jobs Worldwide
Siemens Energy plans to cut 7,800 jobs worldwide by 2025, the company said on Tuesday when presenting its results for the first fiscal quarter, which were positive.
The company was spun off from the German engineering giant Siemens in 2020.
From October to December, the company earned 99 million euros on the bottom line, bringing it back to the profit zone.
In the previous fiscal year, Siemens Energy had made billions in losses.
“The energy market is changing rapidly, this offers us opportunities, but at the same time presents us with major challenges,” said chief executive Christian Bruch.
He said he would increase competitiveness with the savings being ma
“We are aware that our plans demand a lot from parts of the workforce, that’s why our goal is to implement these measures in as socially responsible a manner as possible.