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Marine Propulsion · Energy · Marine Power

Siemens Says to Cut About 6,900 Jobs

Siemens plans to cut about 6,900 job in its turbines division, including related services and in large drives, the Munich-based industrial group said on Thursday.

"The power generation industry is experiencing disruption of unprecedented scope and speed," Siemens management board member Lisa Davis said in a statement.

"Today's action follows a nearly three-year effort to right-size the business for this changing marketplace," she added. 

Reporting by Georgina Prodhan and Christoph Steitz