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Siemens is cutting 10,000 jobs and selling 59 percent of its stake DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Siemens is cutting 10,000 jobs and selling 59 percent of its stake Empty Siemens is cutting 10,000 jobs and selling 59 percent of its stake

Post by claud39 on Wed May 15, 2019 1:28 pm

Siemens is cutting 10,000 jobs and selling 59 percent of its stake




05/14/2019



Siemens is cutting 10,000 jobs and selling 59 percent of its stake 15145







Economy News _ Baghdad



Siemens, a German company, has cut about 10,000 jobs and sold 59 percent of its stake in the gas and power unit. 
The German company Siemens plans to shut down its gas and power unit while cutting costs, although it is currently targeting more utilities in markets such as Iraq.
Siemens' Gas and Power, which is concerned with the generation and transfer of conventional energy, will be "fully independent" and will prepare for an initial public offering and 59 percent of its stake in the takeover by Siemens Gamesa of the gas and power unit, Recently with Iraq to go to another company.
The Middle East website quoted the company as cutting costs by 2.2 billion euros, which will be implemented by 2023, including a reduction of about 10,000 jobs. 



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