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Siemens plans cutbacks its energy business - Manager Magazin

 

 

 

 

By Reuters Staff

FRANKFURT
Petroleumworld 10 20 2017

Siemens is planning an overhaul of its Power & Gas division that will include the closure or sale of some sites and result in thousands of job cuts, German monthly Manager Magazin reported, citing company sources.

The magazine said on Thursday that Siemens could shut or sell up to 11 of its 23 Power & Gas sites around the world.

Siemens said it was continually thinking about its strategic direction, which could include consolidation of some businesses, but declined to comment directly on the Manager Magazin article.



Reporting by Maria Sheahan; Additional reporting by Irene Preisinger; Editing by Ludwig Burger from Reuters.

reuters.com 10 19 2017

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