Siemens prepares to slash 6,900 jobs

ENGINEERING and tech firm Siemens is set to cut about 6,900 jobs as it struggles to adapt to the huge growth of renewable energy.

The move will affect about 2pc of its global workforce, mainly from its power and gas division, which has been hit by a huge slump in demand for turbines.

The firm employs around 15,000 people in the UK, with many at a large factory in Lincoln.

Roughly half the cuts are to be made in Germany, with 1,100 in the rest of Europe and 1,800 in the US. A spokesman said the number of jobs under threat in the UK was ‘very limited’ – although he could not confirm a figure.

The company hopes to make any cuts in the UK through voluntary redundancies or natural fluctuation, and over several years.

Siemens’ power and gas division thrived on supplying large gas turbines for electricity generation but has been overtaken by the surge in solar and wind generation.