Siemens layoffs up to 5000 jobs amid ongoing struggles

Siemens is going to reduce the number of its employees by 5 thousand. CEO Bush says that sometimes re-engineering becomes necessary when growth is not going as expected. reuters According to, citing the report, Siemens has said that the company’s profit has decreased by 46 percent. This loss has been reported in the Flagship Digital Industries Division. However, the exact number regarding how many total jobs the company will reduce has not been disclosed yet. But the management has made it clear that strategy-based adjustments are inevitable in the company and this is most needed at this time.

The company has presented the results for the fourth quarter of the financial year 2024. In these, the tech giant has highlighted the impact of global geopolitical and macroeconomic challenges. But despite these challenges, the company reports that it has performed well in its profitable industrial business. The company has done a business of 3.1 billion euros in which it got a profit margin of 15.5%.

CEO Bush further said that this year has been a year of geopolitical and economic challenges. In view of the elections held in America and the political situation going on in Germany, this kind of struggle may continue for the company in future also.

Siemens expects only modest macroeconomic growth in the coming year i.e. 2025. Trade conflicts, overcapacity and declining consumer demand are posing threats to the manufacturing sector. The company says that it is focusing on long term growth for which it is trying to balance its position in the market by reducing the workforce.