Siemens, Germany’s leading engineering group, will cut fewer domestic jobs than previously expected thanks to new orders for its energy machinery, such as gas power plants, people familiar with the matter told Handelsblatt.
The Munich-based company, which has been restructuring since the chief executive, Joe Kaeser, took the helm in August 2013, announced in May that it planned to cut about 2,200 jobs in Germany and 4,500 worldwide.
But the number of German layoffs is now expected to be less than 2,000, officials in job negotiations at several Siemens locations in Germany told Handelsblatt. Siemens and metal worker’s union IG Metall declined to comment.
“On the one hand, compromises are always reached in these negotiations,” a person familiar with the job cuts told Handelsblatt, noting that both sides were making concessions. “In addition, there have already been some improvements in the order situation.”