Siemens to cut 1,700 jobs in Germany

Siemens cut 1700 jobs in Germany solar unit

Siemens (NYSE: SI) is expected to cut around 1,700 jobs as it restructures its energy business, according to a report from Reuters. The information was originally reported in the German magazine WirtschaftsWoche.

The cuts will affect the unit’s main production facilities in Erlangen and Offenbach as well as a plant in Muelheim an der Ruhr, according to the report. The company’s energy business announced last December it planned to cut 1,100 jobs in Germany as it attempts to lower costs to make its operations more profitable.

Siemens recently announced it would close its solar energy business after failing to find a buyer for the assets.

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