Siemens to cut oil and gas jobs amid wider hiring

*Siemens.

*Siemens.

09 March 2016, Frankfurt — German industrial group Siemens (SIEGn.DE) plans to cut about 2,500 jobs related to the oil and gas, metals and mining sectors – mostly in Germany – while pursuing a hiring drive to boost its digital industrial expertise, it said on Wednesday.

Siemens said it would realign its two business units Large Drives and Process Solutions, affecting about 2,000 jobs in Germany, mainly in Bavaria. It added that it would keep its current sites.

Worldwide, Siemens said it planned to hire at least 25,000 new employees in each of the coming years, thanks to its announced increase of more than 1 billion euros ($1.1 billion) in research and development, productivity and sales.

About 3,000 of these would be in Germany, it said.
*Georgina Prodhan; Editing – Edward Taylor – Reuters

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