Thursday June 4, 2020

Siemens targets further cost savings as profits slide

9th May, 2015
6
A worker with a rotor for a gas turbine at the Siemens gas turbine plant

Engineering company Siemens plans to cut another 4,500 jobs after its second-quarter profit fell by more than analysts had estimated.

“We confirm our outlook. We believe that our business environment will be complex in fiscal 2015, among other things due to geopolitical tensions. We expect revenue on an organic basis to remain flat year-over-year, and orders to exceed revenue for a book-to-bill ratio above 1.”

Siemens statement

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