Home News Siemens is facing job cuts increase and Forecast

Siemens is facing job cuts increase and Forecast


MUNICH (Dow Jones) – After a surprisingly high Sector earnings in the first quarter 2009/10 hints at Siemens AG a Raising the outlook during the year. "Ahead of the half, so half-distance, we are our forecast check, "said CEO Peter Löscher before Tuesday Of the general meeting in Munich.
From October to December, Siemens has in its three sectors Industry, energy and medical technology a profit of 2.26 billion EUR generated and thus already has achieved over one third of the annual forecast, whereby the sector earnings between 2009/10 and 6,0 are EUR 6.5 billion aims.
Quenchers described the first quarter as "effective robust," the high order backlog of EUR 83 billion in late December, "as an anchor of stability in turbulent seas.
He warned that the crisis is not over yet. Siemens was cautious and must be "successful in the longer term, lower Setting the level of the market. "In the case of the langzyklischen shops Dow expects the energy sector of the Munich group in parts of the A weakening of business in the first half. These Tendency to cancel already in each division. "A The end of this decline is not currently visible, " Löscher said.
In stores where it lasting structural Changes in the markets and the competitive situation exists or Technology change takes place, whether adaptation inevitable. "The appropriate addresses specific business and individual sites, "said Löscher. Siemens will be on 28 February Works and Economic Committee on "check-off measures. She said that "certainly not always the reduction of jobs, "said Löscher. IG Metal has already been publicized for job losses in Siemens, a protest action before the Annual General Meeting announced.


Website: www.siemens.com

-By Matthias Karpstein, Dow Jones Newswires, +49 89 55214030,
matthias.karpstein @ dowjones.com
DJG / mak / jhe
Visit our website http://www.dowjones.de 

(END) Dow Jones Newswires

January 26, 2010 01:46 ET (06:46 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc