The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27.12 - Manufacture of electricity distribution and control apparatus
1,100 - 1,700 jobs Number of planned job losses
Announcement Date
6 February 2015
Employment effect (start)
6 February 2015
Foreseen end date
31 December 2020
Description
Siemens, the German electronics and electrical engineering company, announced in February 2015 that 1,700 jobs in total in Germany would be cut in the company's power and gas division. In addition, talks still were to proceed in other areas, such as how many jobs would be lost in Germany at Dresser-Rand after it was taken over by Siemens. Siemens acquired US compressor manufacturer Dresser-Rand for $7,8 billion in June 2015.
Siemens said it would invest and hire new employees in other sections to compensate for the job losses. The restructuring programme is the largest since 1990. However, there have been some job restructurings in recent years (see Siemens 01-2012, Siemens 06-2012,Siemens 09-2012 and Siemens 10-2013). Currently, 340,000 people work for Siemens, 110,000 of them in Germany.
Updated 1-10-2015:Siemens will cut 1,100 out of 13,000 jobs in its power and gas division. These are 600 jobs less than originally planned in February 2015. The job cutting is part of the restructuring programme “Vision 2020” which started in May 2014 and provides for 7,400 jobs being cut worldwide by 2020.
Sources
5 February 2015: Süddeutsche Zeitung
6 February 2015: Stuttgarter Zeitung
6 February 2015: N-TV Online
29 September 2015: Süddeutsche Zeitung (Online)
Citation
Eurofound (2015), Siemens, Internal restructuring in Germany, factsheet number 78314, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78314.
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