Siemens to cut 2,500 jobs in industrial division

By Agence France-Presse

Mar 10, 2016

German engineering giant Siemens said Wednesday it would slash 2,500 jobs from its industrial division in a reorganization to cope with a slump in the oil and gas as well as the metals and mining sectors.

The group, however, pledged to make 25,000 new hires worldwide "in each of the coming years" for its other divisions as it switches its focus to become a "digital industrial company."

For its process industries and drives (PD) division, "a total of about 2,500 jobs worldwide -- of which 2,000 are in Germany, primarily in Bavaria -- will be affected by the realignment," it said in a statement.

Read the full news release.

 

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