Siemens and General Electric, two rivals battling financial problems due to fewer orders for their flagship energy products and services, could each announce major restructuring moves in the coming weeks, according to media reports.

Reuters on June 21, citing a person familiar with the matter, said Siemens plans to merge or trim some of its industrial units, which could include its power operations. Reuters said it was told the Munich, Germany-based company would reduce its core industrial divisions from five to three, effective October 1—the start of the company’s next fiscal year. It reported that sources said details of the company’s “Vision 2020+” plan would be known in August.

Bloomberg earlier this month said the company was considering the sale of its gas turbines manufacturing unit.

Germany’s Manager Magazin also reported the changes on Thursday. The magazine said the new divisions would have higher margin targets. It reported that part of the plan is to merge the company’s “so-called Digital Factory unit with operations designed to automate process industries, and to combine overland high-voltage networks with the power plant business.”…

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