Siemens to Cut Another 4,500 Jobs

GALWAY, IRELAND--May 13, 2015--Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) German engineering giant Siemens AG (NYSE:SI) (Munich, Germany) is to axe another 4,500 jobs, as it attempts to boost profitability at the power generation business of its Power and Gas Division, and restructure other industrial units that are making no profits at all.