Another year goes by, another announcement of more job cuts from German engineering heavyweight Siemens in one of its technology divisions.
In 2016, it was the Process Industries and Drives Division (P&D) that was downsized. Because of homegrown problems and the impact of the low oil prices, the company announced the elimination of 2,500 jobs around the world last spring. In Germany, 1,700 positions were ultimately affected, somewhat fewer than originally planned.
However, upon closer scrutiny, Siemens’ figures turn out to be more positive than one might expect. Globally, the company’s number of employees increased from 348,000 to 351,000 during the last fiscal year. Its German workforce declined slightly to 113,400.
Chief Executive Joe Kaeser complains that the public is only interested in hearing about cuts. “We add far more than we lose. But unfortunately, I most often read on the front page, ‘Siemens Eliminates 2,500 Jobs,’” he said at a press conference where he presented the annual figures. The company hired 31,500 people during the last fiscal year; 4,600 of which were in Germany. Most of the new hires were due to fluctuation – positions that became free were filled.