Siemens Energy to slash 7,800 jobs, cut costs, increase margins

Siemens Energy has revealed its plans to shrink its workforce by about 7,800 employees, with the majority of the layoffs to take place by 2023. It is gearing up to slash 8.5 per cent of its jobs in the next five years and carry out the layoffs in a responsible and sensitive manner. The objective is to gain a competitive edge and increase margins. About 3,000 positions in Germany and 1,700 in the US are expected to be slashed. About three-fourth of the roles will be in the sales and management de
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