GERMANY - Siemens Energy plans to close some of its factories after the spin-off from Siemens next month in an effort to raise margins, according to a source cited by Reuters.
"Production sites will be shut down," the source said, adding that Siemens Energy currently has around 75 factories globally, each employing more than 50 staff, reports Reuters.
The person said the company in some instances needed up to six production sites to put together and test certain components, adding this was too much.
A Siemens Energy spokesman said the group would start talks with labor representatives to explore what a common approach could look like.
Siemens Energy should unveil the location of its headquarters by the end of October.
