Siemens Says to Cut About 6,900 Jobs
Siemens plans to cut about 6,900 job in its turbines division, including related services and in large drives, the Munich-based industrial group said on Thursday.
"The power generation industry is experiencing disruption of unprecedented scope and speed," Siemens management board member Lisa Davis said in a statement.
"Today's action follows a nearly three-year effort to right-size the business for this changing marketplace," she added.
Reporting by Georgina Prodhan and Christoph Steitz
