FRANKFURT (Reuters) – Siemens (SIEGn.DE) is planning restructuring at its Process Industries business as well as at Power & Gas, news agency Bloomberg reported on Thursday, citing sources.
It said job cuts at Process Industries, Siemenss least profitable business last year, could be substantial.
A Siemens spokesman reiterated that it was continually thinking about its strategic direction, which could include consolidation of some businesses.
A person familiar with the matter told Reuters earlier that Siemens was planning further cost cuts at its Power & Gas division.
Reporting by Maria Sheahan; Editing by Tom Sims
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