Siemens to cut 1,100 jobs in energy sector in continued cost-cutting bid
December 22, 2012, 12:12 am TWN
BERLIN -- Industrial conglomerate Siemens AG says it will cut about 1,100 jobs in its energy division in Germany over the next two years amid a wider cost-cutting effort.
Siemens said Thursday the cuts will primarily affect its fossil power and the oil and gas services units which are experiencing sluggish demand. The phasing-out of its nuclear power division also plays a role.