Siemens CEO rules out job cuts from coronavirus impact
Conglomerate adapting to structural changes, CEO says
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ZURICH - Siemens will not cut its workforce because of the economic downturn triggered by the new coronavirus, Chief Executive Joe Kaeser said, although short-time working measures could be extended in Germany.
“No one at Siemens will leave because of a temporary fluctuation in activity,” Kaeser told Passauer Neue Presse in an interview published on Saturday.
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Siemens still had to adapt to structural changes, like in fossil fuel power where the trend is moving toward renewable energies, he said.
“But in a temporary crisis, there’s no question: we will get through it together. And when the crisis is over, and things are picking up again, we’ll tackle it together,” Kaeser said.
So far only a small number of Siemens workers - 1,600 out of 120,000 in Germany, are on short-time work.
“But I can’t rule out that there will be more,” he told the newspaper.