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Siemens Energy: massive downsizing - 3000 jobs will be cut in Germany alone

2021-02-02T07:58:52.803Z

Siemens Energy employs around 90,000 people worldwide. That’s too much, the management thinks, and it’s the red pencil.



Siemens Energy employs around 90,000 people worldwide.

That’s too much, the management thinks, and it’s the red pencil.

Munich - The energy technology group

Siemens

Energy

wants to cut

3000 jobs

in

Germany

by 2025

, and a total of 7800 jobs are to be cut worldwide.

This means that every twelfth job is about to end.

The

Gas and Power

division is affected

, as

Siemens

Energy said on Tuesday when it presented the results for the first fiscal quarter.

In addition to Germany, the company wants to use

the red pencil

in the

USA

in particular

.

1700 jobs are to be cut there.

The group hopes that the downsizing will result in a significant increase in

profitability

.

The adjusted operating margin (Ebitda) is expected to be between 6.5 and 8.5 percent by 2023.

In the past first quarter, Siemens Energy achieved an Ebitda margin of 5.6 percent.

The bottom line was that the

Siemens

subsidiary

earned

99 million euros from October to December and thus made profits again.

In the past fiscal year,

Siemens

Energy had reported a billion-dollar loss.

The shareholders of the

Dax

* heavyweight had given the green light for an IPO last summer.

The initial listing followed in autumn.

Siemens Energy boss: Demand a lot from our workforce

“The energy market is changing rapidly.

This offers us opportunities, but at the same time presents us with great challenges, ”said CEO

Christian Bruch

.

With the savings program he wants to increase competitiveness.

“We are aware that our plans demand a lot from parts of the workforce.

It is therefore our goal to carry out these measures as socially acceptable as possible. ”In addition, no entire locations should be closed.

The company is based in

Munich

, the headquarters are to be located in

Berlin

.

Just a few days ago, Siemens Energy had signed an agreement with the employee representatives to reorganize the company, which among other things provides for avoiding layoffs if possible.

At the time, the company had not yet given any figures.

Siemens Energy: Home office helps with costs

The fact that business was going well in the first quarter does not change the necessity of the renovation, according to

Siemens

Energy.

The result was supported on the one hand by operational improvements at Gas and Power and the wind power

subsidiary Siemens Gamesa

.

On the other hand, special effects helped: The company saved money by

working

from

home

and eliminating business trips in the

corona

pandemic.

(

dpa / red

)

* Merkur.de is part of the Ippen digital network.

Source: merkur

All news articles on 2021-02-02

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