CHARLOTTE – Energy technology company Siemens Energy said Tuesday that it plans to shed 7,800 jobs worldwide by 2025 as part of a drive to cut costs. The company has a major energy hub in Charlotte.
Spun off last year by German industrial conglomerate Siemens AG, Siemens Energy currently has more than 90,000 employees around the world.
It said that “optimized processes, leaner structures, the reduction of overcapacities and portfolio adjustments” will result in some 7,800 jobs going in its gas and power segment, around three-quarters of them in management, administration and sales.
The plans call for 3,000 jobs to be cut in Germany, 1,700 in the United States and 3,100 at other locations worldwide. The cuts are to be completed by the end of the 2025 financial year, with a “large part” by the end of the 2023 financial year, Siemens Energy said.
$350 million total investment results in more than 700 new jobs filled with 400 more to come by 2014, bringing total employment to more than 1800
Siemens Energy opened a 450,000-square-foot Gas Turbine production plant adjacent to its existing Steam Turbine-Generator manufacturing plant in Charlotte a decade ago. The facility was seen at the time as completing Siemens’ Charlotte Energy Hub, defined by the company as “one location [that[] will provide the engineering, manufacturing, servicing and other support functions related to the supply of Siemens’ highly efficient gas and steam turbines and generators to markets around the world.”
