Siemens to Cut More Than 6,000 Jobs in Automation, EV Charging Businesses -- Update

Dow Jones

18 Mar

By Michael Susin

Siemens said it will cut more than 6,000 jobs in its automation and electric-vehicle charging businesses as part of its plans to boost competitiveness.

The German industrial conglomerate on Tuesday said the measures will affect around 5,600 jobs worldwide in the automation segment and around 450 jobs globally in its electric-vehicle charging business.

In Germany, 2,600 jobs in the automation business will be affected, and 250 in the electric vehicle charging segment.

The company added that the layoffs will be implemented by the end of fiscal 2025.

Siemens said the adjustments are due to changes in market conditions. Muted demand, particularly in the key markets of China and Germany, coupled with increased competition have "considerably reduced orders and revenue in the industrial automation business."

The company employs 312,000 people worldwide, according to its website, and around 86,000 people currently work in Germany, a business location which Siemens said it is strongly committed to.

The company added that the reduction plans are aimed at strengthening its competitiveness and enabling investments in growth markets. It added that the electric vehicle charging market is currently facing strong price pressures and limited growth potential for low-power charging stations.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

March 18, 2025 11:19 ET (15:19 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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It added that the electric vehicle charging market is currently facing strong price pressures and limited growth potential for low-power charging stations. \n\n\n \n\n\n  Write to Michael Susin at michael.susin@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 18, 2025 11:19 ET (15:19 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}