Siemens cuts or relocates 1000 jobs from Germany

(Photo: Suzana Obradović)

Siemens is planning cuts since capacities at the department for process industry and departments in Germany are not exploited, this daily published stating sources at industry.

Siemens, which has recently announced cut in jobs due to slow economic growth and poor demand of clients from energy sector, refused to comment these statements.

Oil price has fallen by 70% since 2014, making oil producers and mining companies to cut investments and among other things, in huge engines Siemens produces.

At the presentation of three-month results, Executive Manager at Siemens, Joe Kaeser, has recently admitted that the department as well as energy and gas department has been struggling with structural changes.