Siemens Energy plans to reduce its gas and power division by one-sixth; the timeline is to cut 7,800 jobs by the company’s fiscal year 2025, including about 3,000 in Germany and 1,700 in the United States. Three-quarters of the jobs to be eliminated will be in management and sales. Bloomberg said the major job cuts are another example of the global shift to green energy and the end of fossil fuel business.
The energy market is changing dramatically, and that offers us opportunities as well as serious challenges,” Siemens Energy CEO Christian Bruch said Tuesday (2).
Siemens Energy’s gas and power division employs a total of about 46,000 people and is involved in building and maintaining turbines used in gas and coal-fired power stations. Severance pay negotiations will be conducted separately with the relevant unions in each of the jurisdictions where such procedures are required.
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