Siemens

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Nuremberg, Kirchheim, Dresden
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
27.1 - Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus
27.11 - Manufacture of electric motors, generators and transformers
490 jobs
Number of planned job losses
Job loss
Announcement Date
24 May 2012
Employment effect (start)
1 January 2013
Foreseen end date
30 September 2014

Description

As announced on 25 May 2012, German multinational Siemens is to cut 490 jobs in its Power Transmission division in Germany. This is due to overcapacity and falling prices induced by Asian competitors.

In total, Siemens employs 1,600 people in this division. 400 jobs will be cut in Nuremberg, 90 in Dresden and Kirchheim/Teck. As far as possible, Siemens aims to avoid forced redundancies and announced to implement the restructuring through contract termination, partial retirement and internal mobility.

The restructuring is to be implemented until autumn 2014.

Sources

  • 24 May 2012: Handelsblatt (online)
  • 25 May 2012: Frankfurter Allgemeine Zeitung

Citation

Eurofound (2012), Siemens, Internal restructuring in Germany, factsheet number 73664, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73664.