📉Siemens Plans to Cut Nearly 7,000 Jobs in Traditional Power Generation
Siemens announced massive cuts last week that would eliminate 2 percent of the industrial giant’s.
The decision from Siemens is just the latest in a line of corporate come-to-Jesus moments on renewables, where a company, somewhat belatedly, recognizes the renewable energy transition isn’t slowing and must make a sharp pivot to keep up.
Similar struggles have befallen companies such as General Electric, which also just announced a restructuring that will focus more on renewables, and Westinghouse Electric Company, whose bankruptcy has upended what little remained of the largescale U.S. nuclear industry.
Nearly all of the layoffs will come from its Power and Gas division, reducing labor on its power plant turbine business.
The decision from Siemens is just the latest in a line of corporate come-to-Jesus moments on renewables, where a company, somewhat belatedly, recognizes the renewable energy transition isn’t slowing and must make a sharp pivot to keep up.
Similar struggles have befallen companies such as General Electric, which also just announced a restructuring that will focus more on renewables, and Westinghouse Electric Company, whose bankruptcy has upended what little remained of the largescale U.S. nuclear industry.
Greentech Media