Wedoany.com Report-Mar 19, Siemens AG plans to reduce its global headcount by about 6,000 workers, with the majority of cuts planned in its factory automation business that’s suffering from weak demand.
A winch hangs on the high voltage circuit breaker production line inside Siemens AG switchgear electronic power unit factory in Berlin, Germany, on Thursday, Sept. 13, 2018.
The digital industries unit will slash about 5,600 jobs by the end of fiscal 2027, 2,600 of them in Germany, while the electric-vehicle charging business will trim about 450 positions this year, the company said Tuesday.
The automation business, which employs about 68,000 people, has been hit by ongoing muted demand in China, and the company signaled last year that job cuts were on the horizon. Chief Executive Officer Roland Busch said in February that the unit was beginning to show signs of recovery.
The charging business, which Siemens intends to carve out, is currently suffering from intense price competition and limited growth possibilities, Siemens said. The job reductions amount to about a third of the unit’s workforce.
