BERLIN (AP) — Industrial conglomerate Siemens has announced plans to cut about 6,900 jobs worldwide at its power, gas and drives divisions, half of them in Germany. Munich-based Siemens said Thursday that it plans to cut the jobs "over a period of several years." The company had said when it presented its quarterly earnings last week that profit at its power and gas unit had declined sharply and it expected "painful cuts" in that business. Siemens board member Lisa Davis said that "the power generation industry is experiencing disruption of unprecedented scope and speed," with renewable energy sources placing "increasing pressure" on other forms of electricity generation.

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Topics:  berlin ap     industrial   germany   munich-based siemens   lisa davis   siemens    siemens   cut   jobs   power   drives   generation   plans   gas   
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