Siemens to cut jobs in energy division

• Siemens (OTCPK:SIEGY -2.1%) says it is cutting more jobs in Germany, mainly in its energy division, but declines to confirm a report by German public radio that said ~1,200 jobs will be shed at several German energy locations.
• Siemens’ new energy chief Lisa Davis said earlier this month that she expects narrower profit margins in the power generation business to put pressure on the unit’s results over the next 2-3 years.