Siemens to cut thousands of jobs in fossil power generation division
Reuters
Siemens will cut about 6,900 jobs, or about 2 percent of its global workforce, mainly at its power and gas division hit by rapid renewables growth, report Georgina Prodhan and Christoph Steitz for Reuters. 鈥淭he power generation industry is experiencing disruption of unprecedented scope and speed,鈥� Siemens management board member Lisa Davis said. 鈥淲ith their innovative strength and rapidly expanding generation capacity, renewables are putting other forms of power generation under increasing pressure.鈥�
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