HOUSTON (Sputnik) — Reductions in Siemens’ workforce as part of a new reorganization strategy have increased the company’s efficiency, Siemens President and CEO AG Joe Kaeser told journalists on the sidelines of the IHS CERAWeek conference in Houston, Texas.
"Our new strategy and reorganization made our company more efficient," Kaeser said on Wednesday.
The German corporate giant announced in February 2015 that it would cut 7,800 jobs worldwide as part of its cost-reduction program.
"We took out layers. We are closer to our customers, closer to our business — and that made jobs redundant," Kaeser explained.
"We tried to use most of those jobs to go for innovation and growth. And that’s what they do," Kaeser concluded.
Siemens AG is a corporate leader in electronics, energy equipment, transportation and medical technology, as well as in specialized industrial, transportation and communications products. Siemens was listed as the largest engineering company in Europe in 2014.
