Siemens cuts 7,400 jobs | RetailDetail

Siemens cuts 7,400 jobs

Siemens cuts 7,400 jobs

German technology company Siemens wants to cut 7,400 jobs worldwide to save costs, according to the CEO. The Siemens board has not yet confirmed the news.

Employees with high wages

Internal sources have told Bloomberg that Siemens intends to cut costs by letting 2 % of its total staff go. More than 3,000 jobs would be cut in its home territory, Germany.


Employees with higher wages and more indirect costs would be targeted in this round of redundancies. CEO Joe Kaeser had already said last year that Siemens had to cut costs in the order of 1 billion euro. One of the plans was to simplify its regional activities. 


Kaeser says 18 % of its total 72 billion euro turnover comes from onerous divisions and the company had to announce a 4.1 % first quarter profit drop, down to 1.8 billion euro.

Questions or comments? Please feel free to contact the editors

Media Saturn launches first checkout-free store in Austria


Saturn has opened Europe’s first checkout-free electronics store in Austria. The former Metro Group chain offers its customers traditional sales assistance, but payments have to happen using an app.

Media Markt unifies its online and offline pricing


Ceconomy will create uniformity between Media Markt and Saturn’s online and offline pricing. This will be possible thanks to the digital price tags it now uses in the stores, because there can be altered in real-time.

Smartphone sales drop for the first time ever


2017 may have been a record year for smartphone sellers, but the market is weakening: for the first time since 2004, there were fewer smartphone sales in the fourth quarter.

Merger paid off for Fnac Darty


French entertainment and electronics retailer Fnac Darty (owner of Belgian chain Vanden Borre and Dutch BCC) has experienced a “solid 2017”, with a nearly 40 % turnover increase.

Ceconomy finds growth online


Ceconomy, Media Markt and Saturn’s parent company, revealed a small turnover growth for its first quarter, thanks to improved online sales. Expectedly, its profit did drop.

Insurance company becomes second largest Fnac-Darty shareholder


There has been yet another thorough shake-up among Fnac Darty’s shareholders. The merger company, which owns Belgian electronics chain Vanden Borre and Dutch retailer BCC, will now welcome insurance company SFAM, after it bought investment fund Knight Vinke’s shares.

Back to top