Siemens has informed its employee representatives about further long-term measures related to the establishment of Siemens' Gas and Power (GP) Operating Company that has led to significant synergies and optimization of support functions.

The plans, as they have now been presented, call for reducing approximately 2,700 jobs worldwide over the course of several years, with around 1,400 of these jobs being in Germany, the company said in the press release.

At the same time, Siemens highlighted that the growth-oriented Vision 2020+ strategy concept will also be reflected in workforce development, with an expected net increase of around 10,000 jobs worldwide within the same time period.

Other new measures also address the power transmission products and systems business.

Siemens says the transformers and switching technology markets are burdened by excess capacities, requiring measures for optimizing cost structures and capacities at all locations. Doing so will help preserve the competitiveness of these locations, the release said.

In addition, across the GP Operating Company, bundling and optimization has reduced the need for some of the services provided by support functions.

Source: Siemens