Siemens is planning to reduce the workforce by 1,700 in the Process Industries and Drives division. Management had previously intended to reduce the workforce by a total of 2,500, of which 2,000 in Germany. According to the agreement with the trade union, only 1,700 will be made redundant through early retirement, severance payments and transfer to other business units. The total amount to be spent will range between €250m and €300m, booked in the fourth quarter of the financial yea
28 Sep 2016
Streamlining the Process Industries and Drives division
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Streamlining the Process Industries and Drives division
Siemens Aktiengesellschaft (SIE:WBO) | 0 0 0.4% | Mkt Cap: 93,908m
- Published:
28 Sep 2016 -
Author:
Heinz Steffen -
Pages:
2
Siemens is planning to reduce the workforce by 1,700 in the Process Industries and Drives division. Management had previously intended to reduce the workforce by a total of 2,500, of which 2,000 in Germany. According to the agreement with the trade union, only 1,700 will be made redundant through early retirement, severance payments and transfer to other business units. The total amount to be spent will range between €250m and €300m, booked in the fourth quarter of the financial yea