BERLIN (AP) — 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.
The company says it aims to shrink the division by not filling vacancies and by assigning workers to other production units, rather than through lay-offs.
Munich-based Siemens' energy division has some 86,000 employees worldwide, with about 28,000 of them in Germany.
Siemens, a competitor to General Electric Co., produces fossil-fuel power plants, wind turbines, trains, light bulbs, health care technology and other engineering products.
America is a Nation Headed For a Fall
Supreme Court likely to hear new “assault weapons” ban case
Tonight's New Hampshire GOP Debate Preview | RedState
Mike Shedlock - World's First Robot-Run Lettuce Farm to Produce 30,000 Heads Daily; Tipping Point for Workerless Agriculture
Playboy-Snapchat model Katie May dead at 34 after fall during photo shoot
Why Muslim Rapists Prefer Blondes: A History | Human Events
Concealed Carrier Thwarts Possible Mass Shooting in NOLA