Reported about 18 hours ago
Siemens announced plans to cut 5,600 jobs, representing over 8% of its workforce in the Digital Industries unit, due to declining demand and competitive pressures in key markets like China and Germany. This marks the company's largest layoff since 2017, with 2,600 positions affected in Germany. The decision comes amid a broader trend of job reductions in the automotive sector, highlighting the need for Siemens to adapt and seek growth in alternative markets.
Source: YAHOO