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Bloomberg
Siemens Energy AG will cut roughly a sixth of workers from its gas and power division in the latest sign that the worldwide shift to green energy is upending the fossil-fuel businesses.
The company will eliminate 7,800 jobs by the end of its 2025 financial year, including about 3,000 positions in Germany and 1,700 in the US. Roughly three-quarters of the reductions will be of management and sales roles.
“The energy market is significantly changing, which offers us opportunities but at the same time presents us with great challenges,†Chief
Executive Officer Christian Bruch said.