In what it is calling an effort to strengthen global competitiveness, Siemens says it is eliminating 1,800 energy industry jobs in the U.S. The company is reducing its global workforce by 6,900, with Germany accounting for half of those job losses. Siemens plans to consolidate its power and gas division, the power generation services division and the process industries and drive division. Siemens AG managing board member Lisa Davis said changes are to be made quickly as the company addresses worldwide overcapacities. “The power generation industry is experiencing disruption of unprecedented scope and speed,” Davis said. “With their innovative strength and rapidly expanding generation capacity, renewables are putting other forms of power generation under increasing pressure.” In fiscal 2017, the company hired nearly 39,000 people worldwide to fill positions in its power and gas division.
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