Siemens cuts hundreds of jobs in the usa

Siemens cuts hundreds of jobs in the usa

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.

400 jobs in iowa

More than 400 jobs to be lost at rotor blade manufacturing plant in fort madison, iowa, alone. Siemens had only laid the foundation stone for the factory in 2006; in 2010, U.S. President barack obama had visited the modern site. Other jobs will be cut in hutchinson, kansas, where wind turbine nacelles are assembled, as well as in administration and support services.

Siemens to unveil savings program this fall in response to global economic slowdown. Orders had recently slumped and the profit disappeared. Of all things, the two most important business fields, energy and industry, are doing worse. According to media reports, the group is also considering the elimination of thousands of jobs worldwide. According to the "borsen" newspaper more than 10,000 jobs could be affected.

In the u.S. Alone, the company had spent $100 million over the past five years on its wind power manufacturing operations. With about 60,000 employees, siemens is one of the largest foreign employers in the country. According to a company spokeswoman in the USA, the job cuts will not result in any "significant" losses burdens on the company.


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