Siemens cuts hundreds of jobs in U.S. As wind power orders fail to materialize. The company announced that approximately 615 employees will lose their jobs. The reason for this is the impending expiry of tax breaks for wind power in the USA and the trend towards gas-fired power plants due to the favorable gas prices. Just recently, the electrical giant announced plans to cut about 500 jobs in its german gearbox manufacturing operations due to the weak wind power business.
"The entire industry is currently experiencing a massive slump in orders", siemens announced in the u.S. On tuesday. "Unfortunately, this will not be without consequences for the jobs." The affected employees are to receive severance pay. A spokesman said the job cuts are expected to go through until the end of the year.