Siemens to lay off 6,900 workers globally, primarily in Germany

The German industrial conglomerate Siemens has announced the cancelation of 6,900 jobs across the globe as a response to the changes taking place in the sector of energy, Tanjug reports.

Nearly a half of the announced layoffs will be realized in Germany, says the company’s press release, as reported by CNBC.

– The cuts are necessary to ensure that our expertise in power-plant technology, generators and large electrical motors stays competitive over the long term. That's the goal behind the measures we're taking – said Janina Kugel, Siemens' chief human resources officer managing board member.

The shares of Siemens, which employs 372,000 people globally, changed only slightly following the news.

Siemens AG Munich

Siemens

Janina Kugel

layoffs at Siemens