Siemens chief Peter Loescher will outline a plan today on how the industrial tech giant will attempt to save up to €4bn ($5.2bn, £3.2bn), one that is widely expected to include jobs cuts and office closures. Despite the German economy's strength compared to the rest of Europe - or even arguably most of the world - global hard …
My heart bleeds
"Siemens has invested heavily during recent times in renewable power, including solar, wind and hydro businesses, hoping that there would be a boom in the tech"
That should read "hoping that their massive spend on green propaganda organisations and EU lobby groups would work as well as the few million they may or may not have bunged the UK PM to pass laws mandating the use of their products would result in a legal monopoly for them.".
Re: My heart bleeds
Yeah have to agree with itzman
Had a Seimens phone
In 1999, but swapped it for. Nokia 8210. Never regretted it.
Local Siemens plant that makes wind generator blades just laid off 500 due to non renewal of wind power tax incentives.
I used to work for them, I saw then sink projects that would have made millions by abysmally mismanaging them, and their 'tradition' of the managers playing musical chairs every one-two years precludes any sense of continuity and direction. Finest example of Peter Principle at work I've ever seen.
As for 'having to' lay off people, they're burning muscle to maintain the overinflated profit margins they got used to during the boom years. I'm willing to put money on Siemens 'streamlining' itself down to the bone within the decade.
All Siemens has to do is get (another) UK government project to cock-up. Magically, £4bn and no job cuts achieved!
Let's hope they stop trying to do outsourcing which they are useless at and also stop making CRAP desktops and laptops.
Re: Good riddance?
Siemens don't make desktops or laptops anymore, they sold their share of that business back to Fujitsu.
Not surprising as Siemen's vision for the future is "Make more money this year than we did last year." One of the worst, evil, greedy companies on the planet.