Fastener Shanghai
fastener
fastenerHomefastener
fastener
fastenerNewsfastener
fastener
fastenerfastenerBuyers' Guidefastener
fastener
fastenerStandard Searchfastener
fastener
fastenerFor Buyersfastener
fastener
fastenerFor Suppliersfastener
fastener
fastenerMagazinefastener
fastener
fastenerTrade Showsfastener
fastener
fastenerMy Officefastener
fastener
fastenerPost Inquiriesfastener
Home->Fastener News->Siemens is cutting 6,900 jobs, mostly in Germany a...You are the 309630 visitors
Views:553   |   recommendation:   |   Votes:0   |   Discuss:0
Siemens is cutting 6,900 jobs, mostly in Germany and U.S.

Siemens employs more than 370,000 people around the world.

Industrial conglomerate Siemens is planning to cut 6,900 jobs, mostly in Germany and the U.S.

Most of the job cuts will hit the Siemens (SIEGY) unit that provides turbines and services to companies that generate power from oil and gas.

The German company said Thursday that the cuts were necessary because it faces increased competition from the renewable power market.

"The power generation industry is experiencing disruption of unprecedented scope and speed," explained Lisa Davis, a Siemens board member. "Renewables are putting other forms of power generation under increasing pressure."

Another Siemens division that provides large electrical motors and generators to miners, steel producers and shipbuilders will also shed some jobs.

The job cuts amount to nearly 2% of Siemens' global workforce of more than 370,000. About half of them will fall in Germany, where some locations will close. In the U.S.,1,800 jobs will be lost through the consolidation of production facilities and administrative functions.

Source: CNN Money

2017/11/17 17:30:00

Previous:    SKF launches next-generation hydraulic bolts for rotating flanges
        Next:    What's new at wire & Tube Düsseldorf, the world's leading trade fairs for wire, cables and tubes in 2018?

Recent Related News
Fairmont Supply Acquires Fastener Distributor THB Inc.--2018-01-16
Bossard US Sales Jumped More Than 18% In 2017--2018-01-15
WüRTH GROUP ACHIEVES RECORDS IN SALES AND OPERATING RESULT--2018-01-10
Threaded Fasteners Inc. Expands Again in Florida Market with Addition of Tampa-based Bolt & Nut Inc.--2018-01-09
Würth Group acquires lubricant specialist Liqui Moly--2017-12-30
Fastenal November Sales See Best Growth In 3 Years--2017-12-12
In Pursuit of Excellence in Quality—ZHEJIANG CHAOBOER HARDWARE CO.,LTD.--2017-12-08
Bufab acquires Kian Soon Mechanical Components Pte Ltd--2017-12-05
Donglong Metal Mold Machinery: Focus on Quality, Talents and Brand--2017-12-01
Fastenal Turns 50 Years Old, And Opens A Museum--2017-11-30
China Worldbest Holding: Embracing Dream, Seeking Growth--2017-11-24
Brighton Best Acquires Ironclad Performance Wear, Australia Fastener Supplier--2017-11-22

Vote for this news?

fastener(Very Good)
fastener(Good)
fastener(Normal)
fastener(Bad)
fastener(Very Bad)


Discuss
More Discuss...
Your Name: Anonymous

Enter the code shown:fastener1fastener

Fastener Shanghai


China Fastener Directory
Get it FREE!
fastener
Get your CFD at the following shows:

• WIN EURASIA Metalworking, Mar 15-18, 2018, Turkey

•Taiwan International Fastener Show, Apr 10-12, 2018, Taiwan

•Fastener Fair USA, Apr 11-12, 2018, USA

•M-Tech Nagoya, Apr 11-13, 2018, Japan

•wire & Tube Düsseldorf, Apr 16-20, 2018, Germany



Show Room



Offer Product

Latest News
• China auto sales shrink in December, end year up 1.4 percent

• Interview: BMW optimistic about electrified car prospects in China

Buyers' Guide
Company News

• microGLEIT Technology: A German Professional Lubrication Solution Provider

• Zhejiang Minmetals Huitong: Ensuring Satisfied Customers

The Way to Enter Chinese Market
The Way to Enter Chinese Market


fastener