Germany’s biggest industrial firm last month announced it would cut 2,000 jobs in Germany at its businesses which make electrical motors and automation systems, but that number might not be as high as planned.
“There are always certain concessions in negotiations,” a source with knowledge of the industry told Handelsblatt.
One option, according to insiders, is that Siemens will spread out the job cuts over a longer period of time, or let fewer people go than initially announced.
In the past, the company had planned to eliminate 1,700 posts in its energy unit in Germany, but in the end only cut 1,100 jobs.
Since Joe Kaeser became Siemens’ chief executive in August 2013, he has been reorganizing the group which makes everything from trains to gas turbines to power generators, in an effort to boost profitability and growth. Faced with low profit margins in some businesses, he has announced job cuts totaling 15,000 worldwide and divestments and acquisitions to keep up competition with rivals including General Electric and Swiss-based ABB.