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.
Siemens exhibited at the automatica 2018 with an array of integrated and user-oriented Digital Enterprise solutions designed to sharpen the competitive edge of both end users and machine builders. Exhibiting under the banner "Digital Enterprise – Implement now!", Siemens focused on ways in which industrial enterprises of all sizes can benefit from the digital transformation – along the entire value chain from product design and production planning through the engineering process to new services.
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.
We released our first quarter results for fiscal year 2018 on January 31, 2018. The Press Conference and the Analyst Call were broadcast live.
Siemens held its Annual Shareholders' Meeting at the Olympia Hall in Munich on January 31, 2018.
Press materials on Siemens Innovation Day and "Inventors of the Year"
"Discover the value of the Digital Enterprise for the beverage industry" was the Siemens motto for the Drinktec 2017, the leading international trade fair for the beverage industry. At the 240 square-meter booth in hall A3, Siemens showcased how industrial companies of every size can benefit from the digital transformation – from the digital value chain in the engineering process to the integration of machines into the line.
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.