Siemens (SI) will reportedly cut around 1,700 jobs as part of the restructuring of its energy...

|About: Siemens AG (SIEGY)|By:, SA News Editor

Siemens (SI) will reportedly cut around 1,700 jobs as part of the restructuring of its energy business. That's more than the 1,100 German workers the conglomerate said in December that it would lay off. The speculation about the staff reductions comes after Siemens said earlier this month that it is closing its solar-energy operations after failing to sell the business, and as it carries out massive savings in order to close the gap with rivals GE and ABB.