Siemens and the company's Central Works Council have signed a reconciliation of interests based on the framework agreement reached in May. The goal is to increase the competitiveness of the Power and Gas Division (PG) and the Process Industries and Drives Division (PD). At PG alone, costs are to be reduced – as originally planned – by about €500 million worldwide, with €270 million of this amount to be saved in Germany. Around 2,900 jobs will be cut in Germany instead of the roughly 3,400 announced last November. This reduction in job cuts is due, above all, to the continuation of the location in Görlitz, Germany, and the retention of activities at the Dynamowerk, a Siemens production facility in Berlin. However, the measures are not restricted to capacity adjustments alone. Instead, they are primarily designed to achieve structural improvements and systematically sharpen the company's focus on the technologies of the future.
"The market for fossil power generation has contracted substantially. Against the backdrop of this structural change, the agreement we've reached is critical to improving our competitiveness. We now have to implement the measures quickly," said Lisa Davis, member of the Managing Board of Siemens AG.
"In the past few months, market forecasts have again worsened considerably. The job cuts agreed upon with the employee representatives are only one of the measures urgently necessary to improve our cost position. With the reconciliation of interests, we've also reached an agreement on structural changes and new opportunities for several locations," said Janina Kugel, Chief Human Resources Officer and member of the Managing Board of Siemens AG.
The world's largest trade fair for transport technology – InnoTrans – was being held in Berlin from September 18 to 21. Once again, Siemens has showcased its products in Hall 4.2 and in the outdoor exhibition area.Digitalization is fundamentally transforming the mobility industry. It is improving the availability of vehicles and infrastructures, optimizing operations, and reducing efforts and costs. Reflecting these changes, digital innovations in a networked "Complete Mobility System" was the focus of Siemens' presentation at InnoTrans 2018. Following the motto "Shaping connected mobility," Siemens has showcased new, intelligent solutions that will make rail transport more efficient, safer and more reliable.
Combined press and analyst conferenceWe released our third quarter results for fiscal year 2018 on August 2, 2018 and outlined a strategy update. The combined press and analyst conference was broadcast live.
We released our second quarter results for fiscal year 2018 on May 9, 2018. The Conference Call for journalists and the Analyst Call were broadcast live.
Siemens held its Annual Shareholders' Meeting at the Olympia Hall in Munich on January 31, 2018.
We released our first quarter results for fiscal year 2018 on January 31, 2018. The Press Conference and the Analyst Call were broadcast live.
Press materials on Siemens Innovation Day and "Inventors of the Year"
We released our third quarter results for fiscal year 2017 on August 3, 2017. The Conference Call for journalists and the Analyst Call were broadcast live.
We released our second quarter results for fiscal year 2017 on May 4, 2017. The Conference Call for journalists and the Analyst Call were broadcast live.
On April 3, 2017 Siemens concluded the merger of its wind power business with Gamesa on schedule. Siemens Wind Power and Gamesa will form a world-leading wind power provider, with an unrivalled global presence and an excellent position in an attractive growth market. The two companies complement one another almost perfectly and boast a unique product portfolio. The merger of Siemens' Wind Power business and Gamesa has today received unconditional clearance from the European competition authorities. Subject to pending closing actions, Siemens and Gamesa expect to close the merger early April, after the registration of the merged entity in the Vizcaya Companies Register. The Siemens combined analyst and press conference call with Joe Kaeser, Siemens President and Chief Executive Officer, Ralf P. Thomas, Siemens Chief Financial Officer, and Lisa Davis, Member of the Managing Board, regarding the merger took place on June 17, 2016. Further information can be found at: https://www.siemensgamesa.com/en-int