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Siemens announces major job cuts in automation, EV charging businesses amid weak demand
The automation business, employing around 68,000 workers, has been hit hard by weak demand in China.
The company highlighted that competitive pressures and reduced orders have significantly impacted its industrial automation business over the last two years.
Siemens AG announced on Tuesday that it will slash around 6,000 jobs from its flagship Digital Industries division, citing weak demand in key markets like China and Germany, as per media reports.
The move is part of the German engineering conglomerate’s strategy to adjust production capacity in response to sluggish market conditions.
The company highlighted that competitive pressures and reduced orders have significantly impacted its industrial automation business over the last two years.
While Siemens remains optimistic about the long-term demand for automation technology, it stated that immediate market conditions necessitated this restructuring.
The job cuts were initially hinted at last November, and come in the wake of declining sales and profits within the division. Siemens' latest financial results showed notable downturns, particularly in Germany, China, and Italy, reflecting broader economic struggles in these regions.
Siemens’ Digital Industries division, which employs approximately 68,000 people globally, will see 2,600 positions eliminated in Germany alone.
Additionally, the company announced a separate workforce reduction of around 450 jobs at its electric vehicle charging business, indicating further strategic adjustments across its portfolio.
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