Siemens job cuts to hit 15,000 within a year
Industry, infrastructure and cities are segments targeted by new CEO
Siemens has announced it will have cut 15,000 jobs by this time next year as part of a massive restructuring plan. The Wall Street Journal reported Monday, Sept. 30 that Siemens will focus its cuts on the industry sector and cities and industry sector. About 5,000 of the job cuts will take place in Germany.
"The overall figure for job cuts world-wide is now 15,000 by the end of the 2014 business year. About half of those cuts have already been executed since the start of the program," The Journal quoted a Siemens spokesman as saying. The spokesman told the Journal that about 7,500 jobs already have been eliminated.
Bloomberg.com reported Monday that Siemens’ profit margins were behind those of industry rivals ABB and General Electric, and that new Siemens CEO Joe Kaeser was expected to bring those profit margins up to those levels.
Annual Salary Survey
After almost a decade of uncertainty, the confidence of plant floor managers is soaring. Even with a number of challenges and while implementing new technologies, there is a renewed sense of optimism among plant managers about their business and their future.
The respondents to the 2014 Plant Engineering Salary Survey come from throughout the U.S. and serve a variety of industries, but they are uniform in their optimism about manufacturing. This year’s survey found 79% consider manufacturing a secure career. That’s up from 75% in 2013 and significantly higher than the 63% figure when Plant Engineering first started asking that question a decade ago.