FILE PHOTO: Saftey helmets are piled up for media representatives at the Siemens AG gas turbine factory hall in Berlin November 8, 2012. REUTERS/Tobias Schwarz/File Photo
BERLIN (Reuters) – Siemens plans to cut 2,700 jobs at its gas and power company, in addition to 10,400 it is already shedding in its core units, the German engineering firm said on Tuesday.
Siemens said last month it was spinning off its gas and power business, which has acted as a drag on the firm’s performance as the rise of renewable power hits demand for gas turbines.
The firm said on Tuesday the creation of a separate operating company had led to significant synergies. Job cuts were needed to readjust to the changing market, with 2,700 positions to go