Siemens to axe 6,000 jobs |
Siemens has announced plans to eliminate over 6,000 jobs globally, representing about 2% of its workforce, due to weak demand and heightened competition in key markets including China and Germany. The majority of these cuts will occur in the factory automation unit, with around 5,600 positions expected to be lost by 2027, particularly in Germany. The company said: "Muted demand primarily in the key markets of China and Germany coupled with increased competitive pressures have considerably reduced orders and revenue." Additionally, 450 jobs will be cut from the company's electric vehicle charging business. Siemens says it aims to enhance competitiveness and invest in growth areas despite the challenges it faces in the industrial automation sector. At the end of last year, Siemens employed approximately 313,000 people worldwide. |
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