EMCC European Monitoring Centre on Change

Siemens Energy

Company/Organisation:
Siemens Energy

Geographic Location

Country: World
Location of affected unit(s): Germany, the United States

Company

Sector: Manufacturing
Manufacture of machinery and equipment n.e.c.
28.11 - Manufacture of engines and turbines, except aircraft, vehicle and cycle engines
Number Employed: 91000
Group: Siemens

Employment Effects

Announcement Date: 02-02-2021
Planned Job Reductions min: 7800
Type of Restructuring: Internal restructuring
Employment Effect Start: 02-02-2021
Foreseen End Date: 31-12-2024

Additional Information

German energy technology company Siemens Energy has announced that it will cut 7,800 jobs worldwide, including 3,000 jobs in Germany and 1,700 in the United States by 2025. The restructuring is due to the company's goal to become more competitive in a global energy market that is shifting from fossil fuels to renewable energy.

The restructuring programme is to affect gas and power division; nearly three-quarters of the dismissals will be of management and sales roles. The conditions of the programme will be negotiated with employee representatives according to local regulations. The Chief Executive Officer said that the energy market is changing, and the company is to strength its competitiveness and to focus more on renewable energy. The company expects to reduce costs in power and gas division by at least €300 million.

Siemens Energy has 91,000 employees worldwide; Siemens Energy’s gas and power division employs about 46,000 staff.

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