Yesterday (18 June), Siemens announced plans to cut about 2,700 jobs worldwide.

These cuts will take place over several years, and will see 1,400 roles being reduced in Germany. Human Resources Online has reached out to Siemens for Asia-specific figures, and will update this page accordingly.

This move is in line with the company's plans to strengthen the productivity and competitiveness of its newly-established Gas and Power (GP) Operating Company.

Lisa Davis, member of the Managing Board of Siemens AG and CEO of Gas and Power, explained: "Our new Gas and Power Operating Company setup has created synergies that better enable our company to deliver competitive performance in the midst of structural change in our industry.

"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."

The media statement noted Siemens will begin consultations with the relevant employee representatives and then implement its planned measures, which would include re-qualification programmes in the wake of the structural transformation of the industry, in a way that is socially responsible.

That said, the global technology company estimates a net increase of around 10,000 jobs worldwide within the same time period after taking into account the efficiency-related workforce adjustments across all areas, including today's adjustments at GP.

This story will be updated with more information provided by Siemens.

Photo/ Siemens' pressroom