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 Electrical Equipment 27 - Manufacture of electrical equipment
4,500 jobs Number of planned job losses
Announcement Date
7 May 2015
Employment effect (start)
7 May 2015
Foreseen end date
Description
German manufacturer of electrical goods, Siemens, is to cut 4,500 jobs worldwide. 2,200 of the jobs affected will be in Germany. The company blamed the cuts on problems in its energy division and the need to restructure unprofitable areas of business.
The cuts come in addition to major cuts announced in 2014 and earlier this year, and bring the total planned reductions to 13,100 jobs. In October 2014, the company had already announced cuts of 1,200 in the energy division, and in February it announced a further 7,800 job losses in administration (3,300 of them in Germany) as part of the “Vision 2020” restructuring plan. Siemens indicated that the losses to occur as part of the restructuring programme have been reduced to 7,400, following discussions with German union representatives.
Siemens employs 342,000 staff, of whom 114,000 are based in Germany.
Sources
7 May 2015: Sueddeutsche Zeitung
7 May 2015: Frankfurter Allgemeine Zeitung Online
7 May 2015: Die Zeit online
Citation
Eurofound (2015), Siemens, Internal restructuring in World, factsheet number 83096, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/83096.
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