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Siemens restructures to bolster troubled power and gas division

from Power Mag

Siemens AG has completed a company reorganization to respond to the "persistently difficult environment" in the global power generation market. The global technology company, which had around 357,000 employees in 2014, said it would cut 4,500 jobs worldwide as part of efforts to streamline administrative functions. Siemens announced 7,800 jobs cuts earlier this year. more

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