EnergyWatch

Siemens fires several thousand energy division staff

In anticipation of spinning off its gas and power division as an independent company, under which most of Siemens Gamesa will be relegated, the conglomerate slashes 2,700 jobs – more than half of which are based in Germany.

Siemens' process of ejecting its floundering gas and power division is fully underway. Initially, by cutting yet another corner off its labor force. The German industrial conglomerate announces that 2,700 jobs will be terminated in the coming years, 1,400 of which are based in Germany. This reduction corresponds to around 4 percent of the division's total staff.

"The planned measures will help us create more opportunity for growth and the security that comes from being a competitive player in the energy market," said Lisa Davis, member of the managing board of Siemens AG and CEO of gas and power, in a press statement.

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