Siemens Cutting 1,100 Jobs on Waning Gas-Plant Business
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Siemens AG is eliminating 1,100 jobs at two energy units in Germany, preparing for years of subdued demand for gas-fired turbines made at its Berlin plant as competition increases and utilities hesitate to invest.
Annual turbine production at the factory has dropped to 30 to 35 units from a normal rate of 45 to 50 turbines, Lennart Kunde, the works-council head at the site, told reporters today. The plant’s capacity utilization, as well as a reduction at other energy operations, will result in 1,100 jobs being lost, said Torsten Wolf, a Siemens spokesman.