FRANKFURT (Reuters) – Siemens (SIEGn.DE) may cut thousands of jobs as part of plans to overhaul its power turbine business, where growth in renewable energy is dampening demand for new coal and gas power stations, a person familiar with the matter said.
Various scenarios are being considered, the source said, adding that details of the changes at the Power & Gas division were still to be decided.
German monthly Manager Magazin earlier cited company sources as saying that Siemens could shut or sell up to 11 of its 23 Power & Gas sites around the world, which could include plants in the e…
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