The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
3,210 jobs Number of planned job losses
Announcement Date
11 April 2013
Employment effect (start)
12 April 2013
Foreseen end date
31 December 2014
Description
Electronics and electrical engineering company Siemens has announced plans to cut up to 3,000 jobs globally in its industry business. As announced, most of the job cuts will take place in Germany, with the closure of two mechanical drives factories (500 jobs) and the delocalisation of about 200 jobs to the Czech Republic. Additionally, around 500 administrative and 1,700 sales jobs will be lost. Other jobs will be lost in India (140) and Pakistan (170). With this restructuring plan, Siemens wants to save 6 billion euros. The company faces a falling demand for its products and a diminishing return on sales.
Sources
11 April 2013: Bloomberg
11 April 2013: Standaard
Citation
Eurofound (2013), Siemens Industry Sector, Internal restructuring in World, factsheet number 75227, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75227.
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