Siemens: reaches German deal on restructuring
(CercleFinance.com) - Siemens said on Tuesday that it has reached an agreement with its works council and with labour union IG Metall for the restructuring of its power and gas (PG) and process industries and drives (PD) divisions.
As the German diversified group already said in November, job cuts are on their way, with restructuring measures at the company's German locations in Berlin, Duisburg, Erfurt and Mülheim, in order "to cut costs".
The negotiations are expected to be concluded in the current fiscal year.
Siemens is currently focusing on electrification, automation and digitalization.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
As the German diversified group already said in November, job cuts are on their way, with restructuring measures at the company's German locations in Berlin, Duisburg, Erfurt and Mülheim, in order "to cut costs".
The negotiations are expected to be concluded in the current fiscal year.
Siemens is currently focusing on electrification, automation and digitalization.
Copyright (c) 2018 CercleFinance.com. All rights reserved.