Siemens could cut up to 5,000 jobs worldwide in its struggling factory automation business, Chief Executive Roland Busch said on Thursday.
"Sometimes we have to do some re-engineering because the developments weren't as positive as we expected them to be," said Busch after Siemens reported a 46% plunge in profit at its flagship digital industries business.
https://www.aol.com/news/siemens-cut-5-000-jobs-095453418.html
This company used to be a joy to work at. I have had the pleasure to meet and work with so many talented people and also so much talent left or were either laid off or forced to retire sooner than later. Including myself. I cry often. Su-ks having to climb the corporate ladder all over again.
Wait until 2025 results. Heard they just changed the entire sales compensation plan for the front line which pays a fraction of what they were making previously. Great way to drive a company into the grave.
Way too many management tiers and processes in this company.
The entire software and digital deployment needs to be removed immediately. The infrastructure and industrial sectors have been sold a bag of rubbish to infuse this technology as a future added benefit. Customers do not want a subscription based system extorting their bottom line. That's Microsoft's model which is specific to computing not industrials. Management should be terminated for this bold mistake.
@phc+1vvaSUHN: "The CEO of DI was morose in his message the other day. He complained about the high expenses despite travel restrictions and limited new hires."
And managers don't listen, it seems. I see too many of them insisting on face-to-face meetings for a one hour meeting, what a waste of travel time and expenses. It could easily have been done on Teams. There's stupidity in the whole management culture. Layoffs should be focused on streamlining the layers of management.
Automation is one side of the job-cutting story. One wonders if they'll also eventually go after Software to continue the overall effort to cut costs and the inevitable reorg for the One Tech initiative. The CEO of DI was morose in his message the other day. He complained about the high expenses despite travel restrictions and limited new hires. He summed up 2025 as a year of transformations. Yeah, transformation as in bringing in Altair, more reorgs and job cuts.
This isn't how I envisaged delivering the results expected from a one tech company.