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Siemens Will Cut Another 2,700 Jobs; GE Announces Cuts in Switzerland

June 19, 2019

Siemens on June 18 said it would cut 2,700 jobs from its Gas and Power division, on top of 10,400 positions the German engineering firm last month said it would jettison as part of cost-cutting measures.

The Siemens’ announcement comes one day after U.S.-based rival GE said it would cut 450 jobs at two of its manufacturing sites in Switzerland.

Siemens in May said it would spin off and give up its majority stake in its Gas and Power unit, which includes its power generation, transmission, oil and gas, and related services businesses. The company in that announcement, which it said is part of its Vision 2020+ strategy, also said it was transferring its 59% stake in Siemens Gamesa Renewable Energy (SGRE) to the new business.

Investors have cheered Siemens’ restructuring, with the company’s stock gaining about 9% this year.

Lisa Davis, head of the Gas and Power division, in a statement Tuesday said, “The planned measures will help us create more opportunity for growth and the security that comes from being a competitive player in the energy market.”…

Siemens Cutting 200 Jobs at Texas Service Center

December 12, 2018

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Siemens on December 11 said it would lay off about 200 workers at a gas turbines parts and components service center in Houston, Texas, sometime in late 2019 or early 2020. A company spokesperson made the announcement Tuesday, saying the cuts are due to weak global demand for the company’s turbines.

Siemens in a statement said the decision was “difficult.” The company, in a letter to the Texas Workforce Commission, also said the layoffs were partly due to overcapacity within the company’s network.

Siemens in September said that it would cut 2,900 jobs in Germany to boost the competitiveness of its Power and Gas and Process Industries divisions. The company at the time said the cuts would save about $ 590 million.

Lisa Davis, member of the Managing Board of Siemens AG, in a statement at the time said, “The market for fossil power generation has contracted substantially. Against the backdrop of this structural change, the agreement we’ve reached [with the company’s unions] is critical to improving our competitiveness.”…

GE Will Cut Jobs, End Manufacturing at Virginia Plant

June 13, 2018

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General Electric’s (GE’s) power unit has said it will end manufacturing operations at its plant in Salem, Virginia, next year, with more than 260 workers losing their jobs, according to union officials. Officials noted that 42% of the affected workers are eligible for retirement.

The plan announced June 8 said the Salem plant, which opened in 1955, would continue as an engineering center staffed by some 200 employees. GE is among the largest employers in the Salem region, and the plant at one time had about 3,500 workers.

The company said the Salem manufacturing work would move to other GE locations or be handled by supplier partners. GE has struggled along with other turbine manufacturers over the past year as global demand for the units has fallen. CEO John Flannery in May told a Florida electrical products conference that the company is trying to stem the tide of business losses, but said he is “being deliberate” with moves to reorganize GE even as the company’s stock price has been hammered in the past year.…

Siemens Will Consolidate Power Divisions, Cut 6,900 Jobs

November 18, 2017

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Siemens has announced it will cut 6,900 jobs, about half of them in Germany, over the next “several years” as the company consolidates its three power-related divisions. The November 16 announcement comes just days after U.S. power giant GE announced its own restructuring plan.

Lisa Davis, a member of Siemens managing board, said in a statement “The power generation industry is experiencing disruption of unprecedented scope and speed,” necessitating changes to the company’s operations.

Siemens CEO Joe Kaeser had mostly confirmed the restructuring plan last week, saying it would be “painful,” after reports surfaced in October that the company would likely cut jobs, close some units, and sell others as it downsized its Power and Gas Division. According to the company’s 2016 annual report, its Power and Gas business employs 48,700 workers and accounts for about 20% of the company’s revenue.

Janina Kugel, head of the company’s human resources department, in a statement said “The cuts are necessary to ensure that our expertise in power-plant technology, generators and large electrical motors stays competitive over the long term.”…

Report: Killing Clean Power Plan Could Cost Nation 560,000 Potential Jobs

June 23, 2017

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If the Trump administration’s efforts to roll back the Clean Power Plan (CPP) are successful, the nation could miss out on 560,000 potential jobs and a boost of $ 52 billion to the gross domestic product (GDP), according to a report released by Environmental Entrepreneurs (E2).

“From states with relatively small populations like Maine and Montana to highly populated states like Florida, the CPP could have substantial employment and economic benefits — benefits that would disappear with the Trump Administration’s repeal of the policy,” the June 21 report says.

The CPP has been a thorn in the side of coal proponents since it was proposed in 2014. The rule requires states to develop action plans to meet state-specific, federally-set carbon emissions reduction goals for existing coal-fired power plants.

According to the E2 report, implementation of the CPP would result in the creation of up to 560,000 jobs and add up to $ 52 billion to the nation’s GDP. Those benefits will be lost if the rule is weakened or rescinded, the report says.…