SIEMENS CONSIDERS CUTTING 1,000 ENERGY JOBS.

Europe Energy, December, 2002

The German industrial group Siemens is considering slashing 1,000 of a total of 26,000 jobs in its Power Generation (PG) division, specialised in energy sector infrastructure. The figure is approximate at this stage and the final number is not expected to be known for several weeks or months.

Some of the job cuts, however, which will affect several sites, had already been announced. Siemens had made it known in late August that it would cut some 400 jobs at the British plant in Newcastle, a measure that should have been taken as part of PG's merger with the American firm Westinghouse in 1999, but that was postponed on the strength of the gas turbine market in the United States. A number of specialists have been warning for months that the end of this boom would...

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